diff --git a/x/mint/CHANGELOG.md b/x/mint/CHANGELOG.md
index 749a0680d1e2..670ba976013b 100644
--- a/x/mint/CHANGELOG.md
+++ b/x/mint/CHANGELOG.md
@@ -39,6 +39,5 @@ Ref: https://keepachangelog.com/en/1.0.0/
 * [#20363](https://github.com/cosmos/cosmos-sdk/pull/20363) Deprecated InflationCalculationFn in favor of MintFn, `keeper.DefaultMintFn` wrapper must be used in order to continue using it in `NewAppModule`. This is not breaking for depinject users, as both `MintFn` and `InflationCalculationFn` are accepted.
 * [#19367](https://github.com/cosmos/cosmos-sdk/pull/19398) `appmodule.Environment` is received on the Keeper to get access to different application services.
 * [#21858](https://github.com/cosmos/cosmos-sdk/pull/21858) `NewKeeper` now returns a pointer to `Keeper`.
-* [#21858](https://github.com/cosmos/cosmos-sdk/pull/21858) `DefaultMintFn` now takes `StakingKeeper` and `MintKeeper` as arguments to avoid staking keeper being required by mint.   
+* [#21858](https://github.com/cosmos/cosmos-sdk/pull/21858), [#22979](https://github.com/cosmos/cosmos-sdk/pull/22979) `DefaultMintFn` now takes `StakingKeeper` and `MintKeeper` as arguments to avoid staking keeper being required by mint.   
     * `SetMintFn` is used to replace the default minting function.
-    * `InflationCalculationFn` is not passed through depinject any longer, a MintFn is required instead.
diff --git a/x/mint/depinject.go b/x/mint/depinject.go
index db36920101d5..5119403b7b4f 100644
--- a/x/mint/depinject.go
+++ b/x/mint/depinject.go
@@ -77,11 +77,22 @@ func ProvideModule(in ModuleInputs) ModuleOutputs {
 	return ModuleOutputs{MintKeeper: k, Module: m, EpochHooks: epochstypes.EpochHooksWrapper{EpochHooks: m}}
 }
 
-func InvokeSetMintFn(mintKeeper *keeper.Keeper, mintFn types.MintFn, stakingKeeper types.StakingKeeper) error {
-	if mintFn == nil && stakingKeeper == nil {
-		return fmt.Errorf("custom minting function or staking keeper must be supplied or available")
+func InvokeSetMintFn(
+	mintKeeper *keeper.Keeper,
+	stakingKeeper types.StakingKeeper,
+	mintFn types.MintFn,
+	inflationCalculationFn types.InflationCalculationFn,
+) error {
+	if mintFn == nil && stakingKeeper == nil && inflationCalculationFn == nil {
+		return fmt.Errorf("custom minting function, inflation calculation function or staking keeper must be supplied or available")
+	} else if mintFn != nil && inflationCalculationFn != nil {
+		return fmt.Errorf("cannot set both custom minting function and inflation calculation function")
 	} else if mintFn == nil {
-		mintFn = keeper.DefaultMintFn(types.DefaultInflationCalculationFn, stakingKeeper, mintKeeper)
+		if inflationCalculationFn != nil && stakingKeeper != nil {
+			mintFn = keeper.DefaultMintFn(inflationCalculationFn, stakingKeeper, mintKeeper)
+		} else {
+			mintFn = keeper.DefaultMintFn(types.DefaultInflationCalculationFn, stakingKeeper, mintKeeper)
+		}
 	}
 
 	return mintKeeper.SetMintFn(mintFn)