Definitions of inflated:

• adjective:   expanded by (or as if by) gas or air

  Example: "An inflated balloon"

• adjective:   increased especially to abnormal levels

  Example: "Inflated wages"

• adjective:   pretentious (especially with regard to language or ideals)
• adjective:   enlarged beyond truth or reasonableness

  Example: "Had an exaggerated (or inflated) opinion of himself"