Wandered off for a bit to check dates. Lovecraft's racism is generally seen as very gradually tapering off, most notably by the early 30's he had moved to a culture-based racism over a biological one. Still racist, but he had critically realized no scientific evidence would support his feelings.
Yes, he adopted the usual "civilization vs. barbarians" mindset that the more genteel people of the time had- although, strikingly, his guide of Quebec includes some very straightforward condemnation of the repression of the local tribes without a whiff of "kill the savage, save the man" in it.
Fascinatingly, though he decried communism and revolution, he was a big New Dealer, seeing it as a balanced approach, or even not leftist enough(!). This also affected his political leanings.