deflate

Reduce or lessen the size or importance of.

“The bad review of his work deflated his self-confidence”

Become deflated or flaccid, as by losing air.

“The balloons deflated”

Collapse by releasing contained air or gas.

“deflate a balloon”

Produce deflation in.

“The new measures deflated the economy”

Reduce or cut back the amount or availability of, creating a decline in value or prices.

“deflate the currency”

Release contained air or gas from.

“deflate the air mattress”