Why Are My Inflation-Protected Bonds Falling When Inflation Is So High?

You would think this would be TIPS’ time to shine.

Instead, the prices of Treasury inflation-protected securities—government bonds that are adjusted to keep up with inflation—have declined this year, even as inflation has soared. These declines show how hard it has been to find a safe harbor from the fastest price-level rise in four decades.

Source: https://www.wsj.com/articles/why-are-my-inflation-protected-bonds-falling-when-inflation-is-so-high-11665180788?siteid=yhoof2&yptr=yahoo