Definitions from Wiktionary (deflate)

▸ verb:  (transitive) To remove air or some other gas from within an elastic container, e.g. a balloon or tyre.
▸ verb:  (transitive) To cause an object to decrease or become smaller in some parameter, e.g. to shrink
▸ verb:  (transitive, economics) To reduce the amount of available currency or credit and thus lower prices.
▸ verb:  (intransitive) To become deflated.
▸ verb:  (transitive) To let (someone) down, disappoint them, or put them in their place.
▸ verb:  (transitive, computing) To compress (data) according to a particular algorithm.
▸ verb:  (slang) To belch or flatulate

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