Is now a good time to buy TIPS?

I noticed that $TIP in particular is quite a bit down, and was considering investing some cash since inflation is so high. A few things:

1. I thought that $TIP would have done better recently considering our high amount of inflation. Can anyone better explain why this is?

2. I see that the 30 day yield is 14.54 for $TIP – can someone better explain how this return is calculated? Is it a percentage or dividend or what?

Would love to hear some opinions on this!