Figure 8. Maximum difference between TBI rates and CPI-U inflation rates for maturity horizons ranging from 6 months to 15 years, July 2003–January 2018
Maturity horizon (years) Maximum difference (percentage points)

0.5

10.44

1.0

4.69

1.5

3.65

2.0

3.00

2.5

2.66

3.0

1.65

3.5

1.68

4.0

1.37

4.5

1.39

5.0

1.20

5.5

1.28

6.0

1.12

6.5

1.50

7.0

1.31

7.5

1.54

8.0

1.44

8.5

1.51

9.0

1.46

9.5

1.50

10.0

1.04

10.5

1.09

11.0

1.06

11.5

1.08

12.0

1.01

12.5

1.07

13.0

1.05

13.5

1.08

14.0

0.61

14.5

0.25

15.0

0.19

Note: TBI = Treasury Breakeven Inflation; CPI-U = Consumer Price Index for All Urban Consumers.

Source: U.S. Bureau of Labor Statistics and U.S. Department of the Treasury.