There qualification for the GM title starts at 2500 ELO as we probably all know. The ELO point system (as a whole) does naturally inflate as more points are added to the pool with each new player. (local deflation can occur at the lower levels as new players may bag a few wins and then wash out, taking their points with them, but that is another topic) However, because of chess engines and the Internet, chess players of today are better informed than ever. As a consequence the curve becomes exponentially sharper toward the top. For someone to reach 2500 requires a HUGE dedication, more than most people are willing to give, irrespective of potential. So I believe that although grandmasters are more numerous now than ever, the title is no less deserved now than at its inception.
grandmaster title inflation?

There are more grandmasters now than ever before (obviously, seeing as it's a lifetime title), and the rate is growing. I don't think this is necessarily down to ratings inflation (although it may play a small part), but I think it's down to the growth of internet chess. Before if you wanted to play a strong player to help improve, you had to find a club that's near enough for you, and then persuade that player to play you.
Nowadays, there are apps available for free for your phone that are stronger than every human on the planet, that can be tuned to a level nearer to yours. Resources like Tactics Trainer, Chess Mentor, YouTube, Skype and so many others have helped players from all over the world improve their play, and also practice. And then the internet can be used to help find a club to play competitively in (leagues, tournaments etc.)
The USSR (and then Russia after) were so dominant in world chess, because chess was a huge part of their culture, and because of that they had so many strong players that passed information and knowledge down through generations. (And it was encouraged because of the government's desire to showcase their dominance through chess.) Now the USSR collapsed, we see new teams emerge through world chess; the USA now has 3 of the top 15 (after So and Caruana transferred), China have a top team spearheaded by Ding Liren and Li Chao (with talents like Wei Yi coming up), Armenia and Azerbaijan are as strong as ever, Norway's team is growing because of Carlsen-fever over there... The list goes on and on.
TL;DR: The internet is to blame. :)
A lot of people say that the GM title is inflated. Any thoughts?