5-Year Breakeven Inflation Rate

Inflation · FRED/Treasury · T5YIEM

HIGH▲ 4-yr high

What this measures. 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…Percent · Monthly · Not Seasonally Adjusted

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The latest reading sits at HIGH relative to this series' own history (281 observations) — a statement of where it is in its range, not a forecast. Hover the chart for values; the marked point is the most recent observation.

As of 2026-05-01 · source: FRED / U.S. Treasury · series T5YIEM