Pronunciation: (di-flāt'), [key]
—v., -flat•ed, -flat•ing.
1. to release the air or gas from (something inflated, as a balloon): They deflated the tires slightly to allow the truck to drive under the overpass.
2. to depress or reduce (a person or a person's ego, hopes, spirits, etc.); puncture; dash: Her rebuff thoroughly deflated me.
3. to reduce (currency, prices, etc.) from an inflated condition; to affect with deflation.
to become deflated.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.