{
  "currency": "USD",
  "measure": "CPI",
  "modelPeriod": "2026-09",
  "periodDate": "2026-09-01",
  "retrievedAt": "2026-09-23",
  "points": [
    {
      "horizonYears": 1,
      "expectedInflationPct": 2.643823962335433
    },
    {
      "horizonYears": 2,
      "expectedInflationPct": 2.626414984292754
    },
    {
      "horizonYears": 3,
      "expectedInflationPct": 2.606795778729866
    },
    {
      "horizonYears": 4,
      "expectedInflationPct": 2.5927803347621103
    },
    {
      "horizonYears": 5,
      "expectedInflationPct": 2.583585498349036
    },
    {
      "horizonYears": 6,
      "expectedInflationPct": 2.5778556992811357
    },
    {
      "horizonYears": 7,
      "expectedInflationPct": 2.574530324057143
    },
    {
      "horizonYears": 8,
      "expectedInflationPct": 2.572865623960266
    },
    {
      "horizonYears": 9,
      "expectedInflationPct": 2.572352719924267
    },
    {
      "horizonYears": 10,
      "expectedInflationPct": 2.5726435776395573
    },
    {
      "horizonYears": 11,
      "expectedInflationPct": 2.573498100089065
    },
    {
      "horizonYears": 12,
      "expectedInflationPct": 2.5747485998431343
    },
    {
      "horizonYears": 13,
      "expectedInflationPct": 2.5762763655759002
    },
    {
      "horizonYears": 14,
      "expectedInflationPct": 2.577996220448494
    },
    {
      "horizonYears": 15,
      "expectedInflationPct": 2.579846276114225
    },
    {
      "horizonYears": 16,
      "expectedInflationPct": 2.58178105905605
    },
    {
      "horizonYears": 17,
      "expectedInflationPct": 2.583766838190757
    },
    {
      "horizonYears": 18,
      "expectedInflationPct": 2.585778403195918
    },
    {
      "horizonYears": 19,
      "expectedInflationPct": 2.5877968103428373
    },
    {
      "horizonYears": 20,
      "expectedInflationPct": 2.589807782123743
    },
    {
      "horizonYears": 21,
      "expectedInflationPct": 2.591800554829782
    },
    {
      "horizonYears": 22,
      "expectedInflationPct": 2.593767037380653
    },
    {
      "horizonYears": 23,
      "expectedInflationPct": 2.595701189452555
    },
    {
      "horizonYears": 24,
      "expectedInflationPct": 2.597598556227047
    },
    {
      "horizonYears": 25,
      "expectedInflationPct": 2.599455916466294
    },
    {
      "horizonYears": 26,
      "expectedInflationPct": 2.601271013612905
    },
    {
      "horizonYears": 27,
      "expectedInflationPct": 2.603042348432281
    },
    {
      "horizonYears": 28,
      "expectedInflationPct": 2.604769017778202
    },
    {
      "horizonYears": 29,
      "expectedInflationPct": 2.606450588282134
    },
    {
      "horizonYears": 30,
      "expectedInflationPct": 2.6080869967395883
    }
  ],
  "source": "Federal Reserve Bank of Cleveland Inflation Expectations model",
  "sourceUrl": "https://www.clevelandfed.org/indicators-and-data/inflation-expectations",
  "downloadUrl": "https://www.clevelandfed.org/-/media/files/webcharts/inflationexpectations/inflation-expectations.xlsx?sc_lang=en",
  "doi": "https://doi.org/10.26509/frbc-infexp",
  "license": "CC BY-SA 4.0",
  "licenseUrl": "https://creativecommons.org/licenses/by-sa/4.0/",
  "attribution": "Inflation Expectations, Federal Reserve Bank of Cleveland. Portfolio Lab extracts the monthly term structure and converts decimal values to percentage points. This adaptation is shared under CC BY-SA 4.0; no endorsement is implied.",
  "dateConvention": "Monthly model-output period, not a daily observation or publication date.",
  "units": "Annualized expected CPI inflation, percentage points; average over each stated horizon."
}