deflate
Cross references: 1. contract de.flate \di-'fla-t, 'de--\ \-'fla-t-*r\ vb [de- + -flate (as in inflate)] 1: to release air or gas from 2: to reduce in size or importance 3: to reduce (a price level) or cause (a volume of credit) to contract : COLLAPSE - de.fla.tor n