during the inflationary period of the universe it is commonly said that space expanded faster than light. is this terminology strictly correct? or is there a more accurate way of saying this?

Yes, it is said that space inflated faster then the speed of light. I’d better check notation on that.

It’s said because the horizon, that spherical surface in space that could theoretically be seen from any point, shrank enormously during this period. To put it another way, objects that are within touching distance before inflation are so far apart after inflation that they are too far apart for light to travel from one to the other. To put it a third way, objects near one another are pushed apart by the expansion of space faster than light can travel from one to the other. This is possible because inflation and the expansion of space is orthogonal (i.e. perpendicular) to motion within space-time.