Step 1: Concept
$H_2O_2$ is unstable and decomposes over time. Certain substances are added to slow down this process.
Step 2: Meaning
An inhibitor (or negative catalyst) decreases the rate of a chemical reaction.
Step 3: Analysis
Glycerol acts as a stabilizer for hydrogen peroxide by slowing its decomposition into water and oxygen.
Step 4: Conclusion
Hence, glycerol acts as an Inhibitor.
Final Answer: (B)