In every one of the fractions xi−1xi+1+xixi+2xi−1xi+1 (where i∈{1,2,…,n} and x0=xn and xn+1=x1) we divide by xixi+2 and if we denote yi=xixi+2xi−1xi+1 the required inequality is transformed to the form:
y1+1y1+y2+1y2+⋯+yn+1yn≤n−1.
It is obvious that y1y2⋯yn=1 and all yi are positive. Now we transform the last inequality:
n−(y1+1y1+y2+1y2+⋯+yn+1yn)
1−y1+1y1+1−y2+1y2+⋯+1−yn+1yn≥1
y1+11+y2+11+⋯+yn+11≥1
We will prove the last inequality by induction. For n=3 it is in the form y1+11+y2+11+y3+11≥1 under the condition y1y2y3=1. Now, y3=y1y21 and if we substitute this in the inequality we get: y1+11+y2+11+1+y1y2y1y2≥1. Now if we use the inequality y1+11+y2+11≥y1y2+11 (which is easily proved by multiplying the two sides) we get the required result.
Now let y1+11+y2+11+⋯+yn+11≥1 hold for n. For n+1 we have
y1+11+y2+11+⋯+yn+1+11≥y1+11+y2+11+⋯+yn−1+11+1+yn1+1+yn+11≥≥y1+11+y2+11+⋯+yn−1+11+1+ynyn+11
where we used yn+11+yn+1+11≥ynyn+1+11 in a similar way as above. So now because y1y2⋯yn+1=1 if we denote ti=yi for i=1,…,n−1 and tn=ynyn+1 we have t1t2⋯tn=1 and the last inequality is 1+t11+1+t21+⋯+1+tn1 which is true according to the inductive assumption.