Inflation pressure? There's no inflation pressure, and will never be. Provably lost coins are lost, gone, removed from circulation. Period. Non-provably lost coins aren't removed, they're just trapped. No one should assume they won't return into circulation, and in fact, we, overtime, observe some decade-old, dusted, 50 BTC worth outputs being spent, which reveals that these coins are falsely assumed as lost.
The system begun with the presumption that someday it'd reach a number less than 21 million coins, without any arbitrary monetary policy, and so it is.
You are absolutely correct, inflation was not a correct word at all. But let's say the market counts non-provably lost coins as provably lost-coins (and might be surprised one day).