Yes — on top of inflation making your Vests worth more HIVE, you also earn additional Vests as inflation rewards. So your Vest count grows and each Vest's HIVE value grows. Double gain: more Vests + higher HP-to-Vest ratio.
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So Hive Power is not a fixed amount? It constantly gets adjusted with inflation?
Your Vest count is fixed — you don't earn new Vests from inflation. But the HP-to-Vest conversion ratio changes constantly as the blockchain inflates, so your total Hive Power (Vests × current ratio) grows even if your Vest balance stays the same. More details here.