Core CPI is above 5% by many measures (annualized using recent months numbers). Median CPI, which removes outliers, was 0.6% MoM last month.

https://www.clevelandfed.org/indicators-and-data/median-cpi

That being said, I don't think the effect of the funds rate will be felt linearly like most academic models assume, and don't think funds rate has to be above CPI to be restrictive.