Treasury Inflation-Protected Securities (TIPS) are the most likely savings bonds to serve as a hedge against inflation. This is because they are designed specifically with inflation in mind. The U.S. government regularly adjusts the principal value of TIPS based on inflation determined by changes in the Consumer Price Index. When inflation rises, the principal value of your TIPS will increase at a greater rate, meaning more interest will accrue and you’ll receive more money when redeeming the bonds.