Again, it really depends.
Inflation right now is about 4.5%, so a savings account (even a high yield account) is probably going to fall short of 4.5%.
CD's pay a little higher than savings accounts do, but still they're probably not going to get more than 4.5% and the your money is somewhat locked in.
If you are looking for longer term savings that will take into account inflation, then you might look at inflation adjusted bonds (i.e. TIPS and I-Bonds). Visit
TreasuryDirect for more information. But you have to look beyond the inflation adjustment at the core rate and see if the bond is worth it (i.e. right now I-bonds are going for about 4.5% a year, but that rate will change semi-annually and the core rate is 0%) So if you buy the bond you will only keep up with inflation.