Given inflation is a thing, wouldn't you expect "record profits" year after year, even if nothing else changed?
Did you mean profit margins? OP mentioned profits in absolute dollar amounts, not in % terms. Otherwise it's absurd to claim that dollar profits should stay the same, even with inflation.
Revenue and cost both increase by 10% due to inflation
profit = 1.1 * revenue - 1.1 * cost
profit = 1.1 * (revenue - cost)
So profit also increased by 10 percent.
and
profit = 1.1 * revenue - 1.3 * cost
are both possible. the first leads to record profits every year, the second doesn't. the exact % change in profits is relevant because it can be positive, negative or zero in an environment with uneven inflation. Reality, at the moment, is an environment with uneven inflation.
So this is one industry where you'd expect revenue to increase in proportion to expenses.