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Originally Published: Apr 14, 2022
Originally Published: Apr 14, 2022 Last Updated: Feb 18, 2024 9 min read

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Photo collage illustration of some US savings bonds and a green checkmark drawn on top of them
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One of the safest investments to protect your money from inflation is about to get even more appealing.

The annualized rate for Series I Savings Bonds, aka I bonds, will jump to at least 9.62% in May — an all-time high, making the government bond an even more attractive way for everyday Americans to protect their savings from record-setting inflation.

Since November, the interest rate for I bonds has been a notable 7.12%. Every six months, in November and May, the U.S. Treasury sets a new “variable” interest rate based on the previous six months of inflation.

By design, experts say I bonds are one of the safest ways to hedge against inflation.

David Enna, founder of the financial website TIPS Watch (short for Treasury Inflation Protected Securities), has a track record of accurately forecasting I bond rates, including the current 7.12% rate. As Enna explains, it’s not about using a crystal ball. Rather, it's a matter of simple math — and knowing where to look.

While the Treasury won’t officially announce the new variable rate until May 2, the Labor Department has already publicly released all the inflation data that the Treasury uses to calculate it.

“When the inflation report for the last month — either in April or October — comes out,” Enna says, “you can tell what the rate is gonna be weeks before they announce it.”