6-7% and you withdraw 4% of the balance each year. The difference between the 6-7% roi and the 4% accounts for the 2-3%/year inflation.

For example:
$2.4M beginning balance
Assume 2%/inflation and 6%/year roi
Year 1
withdraw $96k (4% of $2.4M)
6% gain equals $144k
End of year 1 balance = $2.4M - $96k + $144k = $2.448M

Year 2
Withdraw $97.92k (4% of end of year 1 balance is)
97.92 is 2% higher than 96 accounting for 2% inflation.
6% gain equals $146,880
End of year 2 balance = $2.448M + $146,880 - $97.92k = $2.497M

Year 3
Withdraw $99.88k (4% of end of year 2 balance)

You may not agree on the assumed roi or inflation, but that doesn't mean inflation is not accounted for.