"deflates" in the verb sense
collapse by releasing contained air or gas
"deflate a balloon"
release contained air or gas from
"deflate the air mattress"
3. deflate, puncture
reduce or lessen the size or importance of
"The bad review of his work deflated his self-confidence"
produce deflation in
"The new measures deflated the economy"
reduce or cut back the amount or availability of, creating a decline in value or prices
"deflate the currency"
become deflated or flaccid, as by losing air
"The balloons deflated"
Source: WordNet® (An amazing lexical database of English)
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