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deflate

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deflate/dɪˈfleɪt/verb
deflatesdeflateddeflating
deflate
/dɪˈfleɪt/
verb
deflatesdeflateddeflating
Learner's definition of DEFLATE  
[+ object] : to release air or gas from (something, such as a tire or balloon) and make it smaller
   b [no object] : to lose air or gas from inside
— opposite inflate
[+ object] 
: to make (someone) lose confidence or pride
   b : to show that (something) is not important or true
[+ object] : to cause (prices, costs, etc.) to decrease: to cause (something, such as money or real estate) to lose value
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