What is the meaning of deflate?

verb

• Collapse by releasing contained air or gas.
  • usage: "deflate a balloon"
• Release contained air or gas from.
  • usage: "deflate the air mattress"
• Reduce or lessen the size or importance of.
  • usage: "The bad review of his work deflated his self-confidence"
  • synonyms: puncture
• Produce deflation in.
  • usage: "The new measures deflated the economy"
• Reduce or cut back the amount or availability of, creating a decline in value or prices.
  • usage: "deflate the currency"
• Become deflated or flaccid, as by losing air.
  • usage: "The balloons deflated"