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Treasury Inflation-Protected Securities, also known as TIPS, are securities whose principal is tied to the Consumer Price Index. With inflation, the principal increases. With deflation, it decreases. When the security matures, the U.S. Treasury pays the original or adjusted principal, whichever is greater.

TIPS pay interest every six months, based on a fixed rate applied to the adjusted principal. Each interest payment is calculated by multiplying the adjusted principal by one-half the interest rate. Follow the links below to view detailed data on the CPI numbers for various time periods.

Most Recent

The Bureau of the Fiscal Service announced the reference Consumer Price Index (CPI) numbers and daily index ratios for Treasury inflation-protected securities (TIPS).

This information is based on the non-seasonally adjusted U.S. City Average All Items Consumer Price Index for All Urban Consumers (CPI-U) published by the Bureau of Labor Statistics of the U.S. Department of Labor.

In addition to the publication of the reference CPI's (Ref CPI) and index ratios, this release provides the non-seasonally adjusted CPI-U for the prior three-month period.

For information on future release dates, please refer to the Schedule of Releases for the Consumer Price Index on the Bureau of Labor Statistics website.

For additional questions, contact Treasury Auctions at 202-504-3550.


Historical Reference CPI Numbers and Daily Index Ratios

Additional Information