Are short-term bond funds dried up too?

[Jack Sprat]

I took some bank savings and purchased short-term bond funds thinking they might yield a fairly safe and better return than CDs and regular saving deposits. Although interest rates remain stable and unchanged, both short-term treasury and short-term corporate bond funds have lost share price in the last month.

These funds have a variety of bonds of maturity ranging from 1 to 3 years. Does anyone know why bond fund prices would dip without the Fed actually raising interest rates? I don't know what seniors can do now to keep up with real inflation.