Yes, and in the prior years, under Carter, inflation was 9% in 1978, 13.3% in 1979, 12.5% in 1980. By 1982 Regan had already brought inflation down to 3.8% with his trickle down economics.
https://www.thebalance.com/u-s-inflation-rate-history-by-year-and-forecast-3306093