[mhmmmmmm]

This particular Bond yields current inflation levels:

"How is the interest rate of an I bond determined? The interest rate combines two separate rates:

A fixed rate of return, which remains the same throughout the life of the I bond.

A variable semiannual inflation rate based on changes in the Consumer Price Index for all Urban Consumers (CPI-U). The Bureau of the Fiscal Service announces the rates each May and November. The semiannual inflation rate announced in May is the change between the CPI-U figures from the preceding September and March; the inflation rate announced in November is the change between the CPI-U figures from the preceding March and September."

So its fairly safe to assume that current inflation levels are indeed 7%.