Arsenal are top of the standings on maximum points and the only undefeated team in the competition going into the penultimate matchday of the league phase.
Last season, Arsenal fell to a 1-0 defeat by Inter at the San Siro, and Arteta expects another tough challenge when the sides meet in Milan on Tuesday.
Inter, runners-up in both the Champions League and Serie A last season, are top of the Italian league under new manager Cristian Chivu, while Arsenal lead the Premier League having finished second for the past three campaigns.
"A very similar context to last year," Arteta told reporters on Monday.
"Obviously, where the two teams are at the moment is a bit different. A new manager as well that I think has given them some other things in their identity and the way they play.
"I think the task is going to be equally difficult. But I think we had, watching it back, a really strong performance here and the margin that we lost the game, by a penalty."
Arteta is keen for his side to maintain their positive run of results, 11 games without defeat in all competitions, seeing momentum as key to their success.
"Performance and results have an impact emotionally on the team to a level of confidence and the aim tomorrow is to come here and win the game," Arteta said.
"That's a step that we didn't take last year and we have to show that we are better than last year."
Arsenal not only have Inter on their minds, as Sunday they host a rejuvenated Manchester United side who beat Manchester City 2-0 at the weekend in interim manager Michael Carrick's first game in charge.
"We keep tricking the players, that the next one is the most important one of the season and then three days later the same," Arteta said.
"That's the demands, that's the expectations that we have. That's the standards that we have set as a team and as a club. And we are living with that, with joy, with enthusiasm and with a lot of energy."
A draw against Inter would secure Arsenal's place in the last 16, with a win guaranteeing a top-two finish and home advantage in the second leg all the way through to the semi-finals.
"That's massive. We know that and if we win tomorrow we know that that's going to be the case," Arteta said.
"So let's make it happen."
Inter are sixth in the Champions League standings on 12 points after losing their last two matches in the competition.