Australian 10-year breakeven inflation
Average inflation the bond market is pricing over the next ten years.
- Latest
- 2.4%
- Previous
- 2.3%
- Change
- +0.1 pp
- Frequency
- Quarterly
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Australian 10-year breakeven inflation
Average inflation the bond market is pricing over the next ten years.
- 10-year breakeven
- 2.4%
Data table
| Period | 10-year breakeven |
|---|---|
| Sep qtr 2026 | 2.4% |
| Jun qtr 2026 | 2.3% |
| Mar qtr 2026 | 2.4% |
| Dec qtr 2025 | 2.3% |
| Sep qtr 2025 | 2.3% |
| Jun qtr 2025 | 2.1% |
| Mar qtr 2025 | 2.2% |
| Dec qtr 2024 | 2.3% |
| Sep qtr 2024 | 2.3% |
| Jun qtr 2024 | 2.4% |
| Mar qtr 2024 | 2.5% |
| Dec qtr 2023 | 2.6% |
About this indicator
- What it measures
- The difference between nominal and inflation-indexed 10-year Australian Government bond yields.
- How it is calculated
- Calculated by the RBA and published quarterly in table G3.
- How to read it
- Readings near 2.5% are consistent with investors expecting inflation to stay in the RBA's target band over ten years.
- Caveats
- Market pricing, not a forecast: it includes risk and liquidity premiums, and Australia's indexed bond market is small.
- Frequency
- Quarterly
- Typical release
- Quarterly in RBA table G3.
Sources
- Break-even 10-year inflation rate View at the source (opens in a new tab)
Recent observations
Newest first. For a calculated figure, the source value it comes from is shown beside it.
| Period | 10-year breakeven | First recorded here |
|---|---|---|
| Sep qtr 2026 | 2.4% | 20 Oct 2026 |
| Jun qtr 2026 | 2.3% | 20 Oct 2026 |
| Mar qtr 2026 | 2.4% | 20 Oct 2026 |
| Dec qtr 2025 | 2.3% | 20 Oct 2026 |
| Sep qtr 2025 | 2.3% | 20 Oct 2026 |
| Jun qtr 2025 | 2.1% | 20 Oct 2026 |
| Mar qtr 2025 | 2.2% | 20 Oct 2026 |
| Dec qtr 2024 | 2.3% | 20 Oct 2026 |
| Sep qtr 2024 | 2.3% | 20 Oct 2026 |
| Jun qtr 2024 | 2.4% | 20 Oct 2026 |
| Mar qtr 2024 | 2.5% | 20 Oct 2026 |
| Dec qtr 2023 | 2.6% | 20 Oct 2026 |
| Sep qtr 2023 | 2.5% | 20 Oct 2026 |
| Jun qtr 2023 | 2.4% | 20 Oct 2026 |
| Mar qtr 2023 | 2.3% | 20 Oct 2026 |
| Dec qtr 2022 | 2.4% | 20 Oct 2026 |
| Sep qtr 2022 | 2.2% | 20 Oct 2026 |
| Jun qtr 2022 | 2.3% | 20 Oct 2026 |
| Mar qtr 2022 | 2.5% | 20 Oct 2026 |
| Dec qtr 2021 | 2.3% | 20 Oct 2026 |
| Sep qtr 2021 | 1.9% | 20 Oct 2026 |
| Jun qtr 2021 | 2.0% | 20 Oct 2026 |
| Mar qtr 2021 | 2.1% | 20 Oct 2026 |
| Dec qtr 2020 | 1.8% | 20 Oct 2026 |
Revisions
We record a revision when a value we already hold changes at the source. Tracking began on 20 Oct 2026, so revisions made before then are not shown, and figures are in the source's own units.
No revisions detected
No stored value has changed since tracking began.
Related indicators
Australia · Inflation and purchasing power
- Australian CPI inflation (quarterly)
- Australian trimmed mean inflation (quarterly)
- Australian monthly CPI inflation
- Australian monthly trimmed mean inflation
- Purchasing power of the Australian dollar
- Market economists' inflation expectations (1 year ahead)
- Consumer inflation expectations (1 year ahead)