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The U.S. Department of the Treasury has announced new rates for Series I bonds.

Newly purchased I bonds will pay 4.26% annual interest from May 1 through Oct. 31, which is up from the 4.03% yield offered through April 30.

The new rate includes a variable portion of 3.34%, based on inflation data , and a fixed portion of 0.90%. The combined rate is 4.26% after rounding, according to the Treasury. The fixed rate is the same from 0.90% announced in October.

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