postgresql does not seem to respect the pg_hba.conf config - how can I diagnose this?

I have the following pg_hba.conf:

# TYPE  DATABASE        USER            ADDRESS                 METHOD

# "local" is for Unix domain socket connections only
local   all             all                                     trust
# IPv4 local connections:
host    all             all             127.0.0.1/32            trust
# IPv6 local connections:
host    all             all             ::1/128                 trust
# Allow replication connections from localhost, by a user with the
# replication privilege.
local   replication     all                                     trust
host    replication     all             127.0.0.1/32            trust
host    replication     all             ::1/128                 trust

With the above I assume host all all 127.0.0.1/32 trust would allow TCP connections from localhost. However this does not seem to be the case

[root@XenonKiloCranberry:~]# psql -U postgres
psql (11.7)
Type "help" for help.

postgres=# \q

[root@XenonKiloCranberry:~]# psql -U postgres -h 127.0.0.1
psql: FATAL:  no pg_hba.conf entry for host "127.0.0.1", user "postgres", database "postgres", SSL off

Where am I going wrong? Output of select * from pg_hba_file_rules:

line_number | type  | database | user_name | address |                 netmask                 | auth_method | options | error 
-------------+-------+----------+-----------+---------+-----------------------------------------+-------------+---------+-------
           1 | local | {all}    | {all}     |         |                                         | trust       |         | 
           2 | host  | {all}    | {all}     | ::1     | ffff:ffff:ffff:ffff:ffff:ffff:ffff:ffff | trust       |         | 
(2 rows)