FRED Graph
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Notes
Source: Federal Reserve Bank of St. Louis
Release: Interest Rate Spreads
Units: Percent, Not Seasonally Adjusted
Frequency: Daily
Notes:
The breakeven inflation rate represents a measure of expected inflation derived from 5-Year Treasury Constant Maturity Securities (BC_5YEAR) and 5-Year Treasury Inflation-Indexed Constant Maturity Securities (TC_5YEAR). The latest value implies what market participants expect inflation to be in the next 5 years, on average.
Starting with the update on June 21, 2019, the Treasury bond data used in calculating interest rate spreads is obtained directly from the U.S. Treasury Department.
Suggested Citation:
Federal Reserve Bank of St. Louis, 5-Year Breakeven Inflation Rate [T5YIE], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/T5YIE, April 3, 2025.
Source: Federal Reserve Bank of St. Louis
Release: Interest Rate Spreads
Units: Percent, Not Seasonally Adjusted
Frequency: Daily
Notes:
This series is a measure of expected inflation (on average) over the five-year period that begins five years from today.
This series is constructed as:
(((((1+((BC_10YEAR-TC_10YEAR)/100))^10)/((1+((BC_5YEAR-TC_5YEAR)/100))^5))^0.2)-1)*100
where BC10_YEAR, TC_10YEAR, BC_5YEAR, and TC_5YEAR are the 10 year and 5 year nominal and inflation adjusted Treasury securities.
Starting with the update on June 21, 2019, the Treasury bond data used in calculating interest rate spreads is obtained directly from the U.S. Treasury Department.
Suggested Citation:
Federal Reserve Bank of St. Louis, 5-Year, 5-Year Forward Inflation Expectation Rate [T5YIFR], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/T5YIFR, April 3, 2025.
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5-Year Breakeven Inflation Rate
Monthly, Not Seasonally Adjusted5-Year, 5-Year Forward Inflation Expectation Rate
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