The CPI for December of $2022($shown as $2022-12-01$ in FRED$)$ was $298\mathrm{.}99.$

The CPI for December of $2023($shown as $2023-12-01$ in FRED$)$ was $308\mathrm{.}85.$

$($Enter the values exactly as they appear in FRED.$)$

Using the CPI values you entered above, calculate the inflation rate for the past year.

The inflation rate was percent. $($Round your response to two decimal places.$)$