It's well known that TIPS are linked to CPI-U and this inflation measure has many issues especially for those who spend more than average on food, gas, health care and college expenses. This Wall Street Journal article
reviews this issue for TIPS investors. As you might expect, none of the alternatives it mentioned are free of risk. One of the alternatives mentioned is a mutual fund that holds TIPS, commodities, real estate, natural resource stocks and master limited partnerships (MLPs).