Hive has no supply cap. The total inflation will theoretically peter out to 0.5% about 15 years from now (IIRC). But because up to 50% of author rewards are in HBD and because the DAO pays for proposals in HBD, there is much potential for excess inflation.

Inflation is not a bad thing on Hive. HIVE is not a store of value coin. It's currency the purpose of which is to fuel activity, although with enough activity it can appreciate quite a lot. But never confuse its value proposition with that of Bitcoin.