Yes. Most high level languages have a translator and have an interpreter.
The situation with computer languages is somewhat like that with human languages:
Using a human interpreter as an intermediate is slower than conversing directly in a particular language. The same is true with computer language interpreters. The interpreter has to do quite a bit of work to deal with the language it is interpreting. The extra work makes it look like the virtual processor is much slower than the real one.
Is it always important for a program to run as fast as possible? (Hint: take some time to answer this question.)