"may have inflated" is a correct and usable phrase in written English.
You can use it when you want to suggest that something is possibly exaggerated or designed to make something seem bigger or more important than it really is. For example, "The company's claims of success may have been inflated to make it look more attractive to potential investors."
But critics contend that the city may have inflated the value of the land.
Seasonal factors may have inflated January hiring numbers in some industries, like restaurants or construction.
Companies may have inflated past profits, it was said, but at least future profits growth is on a firmer base.
It has claimed 5.8 million subscribers in 31 states and Puerto Rico, but recently disclosed financial data suggesting it may have inflated that figure by about 200,000.
Deals and Steals Competition is intense, the economic outlook is murky and recent financing deals may have inflated 2001 sales at the expense of 2002.
Mr. Smulders also cautioned that the effects of the Sept. 11 attacks may have inflated the industry's fourth-quarter PC sales.
It didn't help that Mr. Cuti may have inflated the company's income; he has since been indicted on charges of securities fraud.
Outside of court, Mr. Rothman said his client may have inflated his credentials when applying to Merrill Lynch, but not to the extent that prosecutors contended.
But by keeping interest rates low to cushion the economy from a slump in share prices, some central banks may have inflated a housing bubble.
Mirant, the biggest North American natural gas trader, said today that an accounting review had turned up mistakes that may have inflated figures on its balance sheet as much as $1.1 billion.
The company's shares have fallen 56percentthis yearar, erasing $65 billion in shareholder value, on concerns that it uses aggressive accounting practices and may have inflated its profits.
