I hate to deflate your ego, but you seem to have an exaggerated idea of your importance to me.

我不愿伤你的自尊，但是你好像高估了你对我的重要性。

《柯林斯英汉双解大词典》

One sharp remark is enough to deflate her.

一句尖锐的话足以使她泄气。

youdao

As the downturn unfolds asset prices begin to deflate.

在低迷时期，资产价格开始下跌。

youdao

Things started to go wrong when Spain's frothy construction industry began to deflate last year.

ECONOMIST: Spain

On Thursday, the government reiterated its decision to deflate China real estate prices further.

FORBES: Despite Lower Inflation, China Housing Price Controls To Remain

If you're trying to deflate the insurgency there has to be some process of reconciliation.

NPR: Memo Reveals Security Council's Doubts on Al-Maliki