What is the meaning of Deflate?

To remove air or some other gas from within an elastic container, e.g. a balloon or tyre.

To cause an object to decrease or become smaller in some parameter, e.g. to shrink

To reduce the amount of available currency or credit and thus lower prices.

To become deflated.

To let (someone) down, disappoint (them), or put (them) in (their) place.

To compress (data) according to a particular algorithm.

To belch or flatulate

Source: wiktionary.org