The total newly-minted PPC on 25th Dec, 2013 is around 3,534, according to the PPC explorer:
http://ppc.cryptocoinexplorer.com/chain/PPCoin?count=161&hi=87668
or 20966015(block 87667)-20962481(block 87508)=3,534, which is less than BTC@3,600 or LTC@28,800.
Thoughts?
Does this mean PPC finally has lower inflation than BTC?
Definitely indicates that inflation is decreasing. The hash rate of Peercoin is increasing steadily, along with the difficulty. Very good signs. 
I think this has been the situation for a while. Notice peercoin has roughly twice as many coins as bitcoin. If the two has the same inflation rate, peercoin’s generation rate should be roughly twice as bitcoin’s.
Back in September Peercoin was producing an average of about ~9,100 PoW coins per day.
Today, Peercoin is putting out about an average of 4,300 PoW mined coins per day.
If you do the math, (9,100 - 4,300) / 9,100 = ~52.7% decrease in the inflation rate in about 3.5 months.
Peercoins are becoming very very rare indeed. get them while they are still cheap.