Country comparison

10-Year Breakeven Inflation Rate by Country

The breakeven inflation rate is the difference between a nominal government bond yield and an inflation-linked bond yield of the same maturity (typically 10 years). It approximates the rate of inflation that would make holding the two bonds equally profitable — i.e. the market's pricing of average future inflation.

Why compare 10-Year Breakeven Inflation Rate across countries?

Breakevens are the highest-frequency, market-implied gauge of inflation expectations. They move on every CPI print, every Fed speech, and every commodity-price move. Sharp breakeven widening warns the central bank that anchoring is slipping; tightening supports a dovish pivot. Real yields (nominal minus breakeven) are a cleaner FX driver than nominal yields alone.

How to read the country list

Compare current breakevens to the central bank's inflation target. Watch the 5y5y forward (the 5-year breakeven five years out) for anchoring rather than the spot 5y or 10y. Liquidity premia distort levels in stressed markets.

Supported countries

Filter by country, currency, source, cadence, or unit.

Country / Currency Frequency Unit Source History Links
Eurozone
EUR / Euro
Monthly % ECB History from 2004-09-01 (21.8 years)
United States
USD / US Dollar
Daily % US Treasury History from 2003-01-02 (23.5 years)