In general, yes. Nothing happens when reading parts of a word from a bus, so the whole word is read. The instructions indicate which parts of the words they need to actually load or store in registers.
However, this is rarely read directly from memory these days. Processors have caches with which you interact in 99% of cases, and when the data is not in the cache, a whole line (a few words) appears, and then you still read from the cache.
Also note that many modern processors actually have 64-bit buses.
Eli bendersky
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