Since the inflation is in percentages, if it increases for one year, does it mean the base for calculating inflation has become higher for all following years?

Example: In 2025 there is 100m virtual supply and 10% (10m) projected inflation. But instead inflation was 20% (20m). For 2026, there is 9% projected inflation, but instead of 9% of 110m it's become 9% of 120m. Is it compounding like that?