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 was 14 percent on August 29, the same as a week earlier. The deflation probability for the 2011-16 period ticked down from 13 percent on August 22 to 12 percent on August 29.