Generally speaking, yes. With RF there are a handful of encoding methods, but in very simple terms binary 1's and 0's correspond to the high/low peaks of the frequency. Higher frequencies can therefore transmit data faster because you have more "peaks", and opportunities to encode data per interval of time.

Higher frequencies have less power in terms of ability to travel a great distance or through materials. It is very much like audible sounds, you can hear bass notes from someone playing music far away, but you'll lose the highs and then the mids after a relatively short distance.

One of the many tradeoffs in RF networks is trading range for throughput.