Source: https://mochatrade.com/learn/glossary/breakeven-inflation

# Breakeven inflation
URL: https://mochatrade.com/learn/glossary/breakeven-inflation
Last modified: 2026-10-17

Breakeven inflation is the gap between an ordinary Treasury yield and its inflation-protected twin of the same maturity, the inflation rate the bond market is pricing. It is [the market expectation an inflation print is judged against](https://mochatrade.com/learn/start-here/how-to-read-us-market-news), and you can [subtract the two Treasury curves yourself in a minute](https://mochatrade.com/blog/mocha-markets-weekly-ccd). The [inflation lecture](https://mochatrade.com/learn/us-market-structure/us-inflation-explained) uses it as the bar.

## Related terms

- Treasury yield: https://mochatrade.com/learn/glossary/treasury-yield
- CPI: https://mochatrade.com/learn/glossary/cpi
- Dot plot: https://mochatrade.com/learn/glossary/dot-plot
- 2-year Treasury yield: https://mochatrade.com/learn/glossary/2-year-treasury-yield
- FRED: https://mochatrade.com/learn/glossary/fred
- Option open interest: https://mochatrade.com/learn/glossary/option-open-interest