--by CLARK HOWARD

Interest rates are low and prices are going up.

It's a double whammy to your wallet.

But I have found a way to take inflation and make it work for you, at least in one case.

It's a lesson in Clarkonomics that'll pay off.

Two words -- savings bonds.

Yes, savings bonds.

“When I think of savings bonds, I think of old fashioned, old time, not really the best way to save or invest your money,” said Allie Baxter.

I know, it sounds old fashioned, but it beats the banks.

CD rates at most banks are around 3 percent.

But I-series savings bond are a much better deal.

Why?

Inflation! In fact, the "I" in I-series stands for inflation.

The government sets the interest rates based on two things -- a fixed base rate, plus an allowance for inflation.

Right now, the fixed base rate is 1.2 percent.

Add inflation and your interest rate is 4.28 percent.

Way better than the bank.

But wait, it gets better!

In six months, because of inflation, the interest rate will go to six percent; double what lots of banks offer on traditional CDs.

“Oh, it would make sense to get into that, then,” said Baxter.

It's easy to do, just go to treasurydirect.gov, and you can buy the bonds right over the Internet. You can spend as little as 25 bucks or as much as $5,000.

But get into it right away because on May 1, the government will cut the fixed rate of the bonds, so beat the May Day deadline.

Watch my report on WSB-TV Channel 2 Action News at 5 for details on where you can invest in these moneymakers.