Since the publication of Truth, Paul Horwich’s ‘Minimalism’ has become the paradigm of what goes under the label ‘the deflationary conception of truth’. Despite the many theoretical virtues of Horwich’s minimalism, it is usually contended that it cannot fully account for the normative role that truth plays in enquiry. As I see it, this concern amounts to several challenges. One such challenge—call it the axiological challenge—is about whether deflationists have the theoretical resources to explain the value of truth. Some philosophers (...) have argued that they do not. The thought is that by being valuable in the way it is, truth plays a non-trivial explanatory role with respect to core phenomena of enquiry. In order to account for this aspect of truth, the challenge goes, we need to inflate truth’s nature to an extent incompatible with core tenets of the minimalist conception. In this paper, I first provide some clarifications of what we mean exactly when we say that truth is valuable. By borrowing important distinction from the current debate in axiology, I elaborate a framework within which to conduct investigations into the value of truth. With reference to Horwich’s discussion of the issue, I then discuss the link between questions concerning the explanatory role of truth and the issue of its metaphysical inflation. I conclude by briefly exploring a few strategies on behalf of minimalists to address the axiological challenge. (shrink)