They very specifically say inflation is not "under control" which is why they have not lowered interest rates recently. It was almost under control until Trumpty Dumpty started his corrupt monkey wrenching with tariffs.
Not sure if the 40% is real, but if so, it annualizes to 6.96% across five years. I don't know if that's considered high or not.
I sure don’t feel like I added anything to the discussion. Do you?
The target has been a 2% long-term average (although there has been recent language indicating a shift towards "just try for 2% going forward"). It peaked at something like 9%, which hadn't been seen in decades. Nothing compared to e.g. Weimar Germany, Brazil circa 1990, or even modern-day Argentina; but undesirable and concerning.