TIPS calculator
Starts at the latest six-month change in consumer prices, annualized. Nobody knows the future rate, so try your own.
| Term | APR | Per year | At maturity | ||||
|---|---|---|---|---|---|---|---|
Estimates from the most recent auction of each term. The next auction will price differently.
TIPS rate history
The real yield at every auction, before inflation, one line per term.
| Auction | Term | Real yield | Price per $100 |
|---|
How TIPS work
- Terms
- 5, 10, and 30 years.
- How it pays
- Principal follows the Consumer Price Index. A fixed rate is paid on the adjusted principal every six months.
- At maturity
- You get the inflation-adjusted principal, and never less than the original.
- Buying
- From $100, in $100 steps, at auction. A noncompetitive bid takes the auction's rate.
- Taxes
- Federal income tax applies. Exempt from state and local income tax.
How this calculator works
The calculator grows the principal at your assumed inflation rate, pays the fixed coupon on that growing principal every six months, and returns the adjusted principal at maturity. Inflation gain is the growth in principal alone; per year spreads the total evenly over the term.
APR combines the real yield Treasury publishes with each auction result and your assumed inflation. The amount you enter is treated as the inflation-adjusted principal on the issue date.
Ready to buy TIPS?
You can buy TIPS directly from the U.S. government at TreasuryDirect.
Treasury Calculator is an independent site and is not affiliated with the U.S. government.