The I Bond Rate for May 2011 will be 4.60%. The new composite rate includes the previously known 2.60% CPI-U change and the newly announced 0% fixed rate.
Fixed Rate: 0.00%
CPI-U Rate: 2.60%
Variable Rate: 4.60%
Composite Rate: 4.60%
TreasuryDirect Press Release: http://www.treasurydirect.gov/news/pressroom/pressroom_comeeandi0511.htm