It looks like 1980 was a high point of a cycle, and the graph ends on a low point. So the low point of a roughly +/- 0.2 degree cycle now is 0.2 degrees over the high point of the cycle 40 years ago. It would be easier to see what's happening if there were a trendline plotted through the datapoints.
edit accuracy: high point of probably 1981 was closer to 0.1 than 0; current low point is 0.1 degrees higher than that.
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