That's correct, and this person's insistence on using the word "inflation" when he should be using "issuance" is only confusing to people who are just learning about bitcoin.

This is why we make a clear distinction between the two, because the inflation of gold and fiat currencies and the issuance of bitcoin are completely different.

Using the word inflation for the the issuance of bitcoin up to the 21 million cap is misleading and confusing.