If something that has air or gas inside it deflates, or is deflated, it becomes smaller because it loses the air or gas.

to deflate a balloon/tyre 给气球／轮胎放气

to cause something to become weaker

The party's ambitions have been deflated by the two recent by-election defeats. 最近的两次补选失利使该党的雄心受到了不小的打击。

to make someone lose confidence or feel less important

They were totally deflated by losing the game. 他们输掉比赛后彻底丧失了信心。

to reduce the supply of money in an economy