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.

I don’t think that tells us anything. We already know 7% > than 4.2. This should already be a fact that inflation was worse during Covid.

I don’t think know that inflation was worse in the 70s helps fixes the narrative that 4.2% inflation is not good.