Payout for Series I bonds to rise, Treasury Department says

The Treasury Department announced Tuesday that Series I bonds will pay an annual rate of 5.27% over the next six months, up from 4.3% since May.
The interest rate on the bonds is variable and tied to inflation. It rose above 9% for part of 2022.
The rate on I bonds is still below the yield on U.S. Treasurys that mature in one year or less, however. $SPDR S&P 500 ETF(SPY.US)$ $S&P 500 Index(.SPX.US)$