At what rate does the circulating supply increase? Your last statement is just nonsense. No need to attack my character :)
Discussion
The total supply (denominator) is fixed, non inflationary at 21 million. As I mentioned earlier, you are confusing concepts. Are you also subtracting HODLing from circulating supply? Over what time? What about exchanging Bitcoin for fiat for USD vs for goods and services. Nevertheless, all of these, should it be Fees, Mining rewards held back, liquidity, time, velocity etc are all in the numerator. The total supply (denominator) is programmatically fixed at 21 million. Only if we increase total supply do we have inflation.