5-Year, 5-Year Forward Inflation Expectation Rate (T5YIFRM)

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Source: Federal Reserve Bank of St. Louis  

Release: Interest Rate Spreads

Units:  Percent, Not Seasonally Adjusted

Frequency:  Monthly

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+((GS10-FII10)/100))^10)/((1+((GS5-FII5)/100))^5))^0.2)-1)*100

where GS10, FII10, GS5, and FII5 are the 10 year and 5 year nominal and inflation adjusted Treasury securities. All of those are the actual series IDs in FRED.