Gurus recommend TIPS with the first vestige of increasing interest rates. They’re bonds issued by the federal government through a bank, broker, or the Treasury, for five, ten and twenty year maturities. They also can be bought in the form of mutual funds and Exchange Traded Funds (ETFs).
TIPS’ values grow to the extent of inflation.
They’re not the investment tools I recommend, for several reasons.
Their function can be accomplished better with the use of proper duration principles and implementation. Furthermore, they often sell at a premium to value and their inflation advantages are taxable. ( See the Earl J. Weinreb NewsHole® comments.)
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