deflate >> /dəˈfleɪt/
Definition: [verb] Let air or gas out of (a tire, balloon, or similar object)
Example: he deflated one of the tires
Definition: [verb] Cause (someone) to suddenly lose confidence or feel less important.
Example: his response deflated me
Definition: [verb] Bring about a general reduction of price levels in (an economy)
Example: the budget deflated the economy