Prices of Treasury Inflation-Protected Securities (TIPS) with similar maturity dates can be used to measure probabilities of a net decline in the consumer price index over the five-year period starting in early 2011 or the five-year period starting in early 2012. One measure of the probability of deflation for the 2012-17 period ticked down from 13 percent on September 26 to 12 percent on October 3. The deflation probability for the 2011-16 period was 10 percent on October 3, down slightly from 12 percent on September 26.