Zooming out in what sense? Those rolling charts don’t mean much imo. Year over year change is a pretty good perspective and a tick up like this is not great.
Zooming out tells you this tick up to 4.2% is not nearly as bad as the post-covid inflation, and drastically better than the 70s. Not a good sign, but also not too far outside the historical mean and probably no need to panic in and of itself.
Obviously more inflation is bad almost always. The question is how bad. By looking at a graph, you can get a sense for the mean and standard deviation of inflation over time, and this looks to be a small deviation in the grand scheme of things. Of course, no one would call this good, but it's just good to put stuff like this in context.
