That would only apply if the world doesn't expande in therms of products and services availble and if the birth rate is the same as the death rate.

If you have a decrease in products and services available and the death rate be higher than the birth rate it would make your fixed cap coin inflationary.

As i said before, increasing supply doesn't mean inflation, it only means inflation if you increase supply more then the increased productivity my friend.

That's the trap that BTC maxis fall, and that's why Monero as Bitcoin is deflationary.