deflating >> /dɪˈfleɪt/
Definition: [verb] Let air or gas out of (a tyre, balloon, or similar object)
Example: he deflated one of the tyres
Definition: [verb] Make (someone) suddenly lose confidence or feel dispirited.
Example: his response deflated me
Definition: [verb] Bring about a general reduction of price levels in (an economy)
Example: the budget deflated the economy