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1. Collapse by releasing contained air or gas
   "deflate a balloon"
    
2. Release contained air or gas from
   "deflate the air mattress"
    
3. Reduce or lessen the size or importance of
   "The bad review of his work deflated his self-confidence";
   - puncture
    
4. Produce deflation in
   "The new measures deflated the economy"
    
5. Reduce or cut back the amount or availability of, creating a decline in value or prices
   "deflate the currency"
    
6. Become deflated or flaccid, as by losing air
   "The balloons deflated"

Derived forms: deflates, deflating, deflated

Type of: alter, bring down, change, collapse, cut, cut back, cut down, decrease, deprecate, depreciate, diminish, fall, lessen, modify, reduce, release, trim, trim back, trim down, turn, vilipend

Antonym: blow up, inflate

Encyclopedia: Deflate