These charts are available from every tire manufacturer. If this pressure is not the maximum rated pressure, then increase it 5 lbs at a time checking the handling and comfort with test drives. You will get the best fuel economy with the highest pressure since the rolling resistance will be the least it can be. Settle on the highest in that range that gives acceptable handling and comfort. The chances are that the ride comfort will not be best at 110, but your mileage will be.
Deformation is related to the weight on the wheel, tire size and pressure.
Michelin furnishes this data in the form of inflation tables. At too low a pressure, you will generate excessive heat and the tire life will suffer. At too high a pressure, you can damage by hitting road objects. The high pressure causes the force of hitting a road object to be concentrated and can damage the tire cords. In addition, higher than optimum tire pressures will reduce the contact patch, affecting road holding properties.