v.
1. a tr. let air or gas out of (a tyre, balloon, etc.). b intr. be emptied of air or gas.
2 a tr. cause to lose confidence or conceit. b intr. lose confidence.
3 Econ. a tr. subject (a currency or economy) to deflation. b intr. pursue a policy of deflation.
4 tr. reduce the importance of, depreciate.
Derivatives:
deflator n.
Etymology: DE- + INFLATE