Euro Inflation Swap Rates: The Eurozone HICP Curve, 1Y to 50Y
Zero-coupon euro inflation swaps on eurozone HICP from 1 to 50 years: the market's price for locking European inflation, and the curve behind every indexed cash-flow valuation, with the inflation the curve implies for each single year.
Last update:
| Tenor | ZC swap rate10 Jul 2026 | Implied inflation, that year | 1 week ago— | 1 month ago— | 1 year ago— |
|---|---|---|---|---|---|
| EUR HICP 1Y Swap Rate | |||||
| EUR HICP 2Y Swap Rate | |||||
| EUR HICP 3Y Swap Rate | |||||
| EUR HICP 4Y Swap Rate | |||||
| EUR HICP 5Y Swap Rate | |||||
| EUR HICP 7Y Swap Rate | |||||
| EUR HICP 10Y Swap Rate | |||||
| EUR HICP 15Y Swap Rate | |||||
| EUR HICP 20Y Swap Rate | |||||
| EUR HICP 25Y Swap Rate | |||||
| EUR HICP 30Y Swap Rate | |||||
| EUR HICP 40Y Swap Rate | |||||
| EUR HICP 50Y Swap Rate | |||||
Zero-coupon curves built from inflation swap market data, discounted on 6M EURIBOR. Read how we build these rates.
Unlock the full curve
Get every EUR HICP tenor, plus UK RPI & UK CPI
- Full ZC curves, 1 to 50 years
- EUR HICP, UK RPI & UK CPI
- Excel Add-in & API access
- Price swaps, caps & get MtM
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The market's euro inflation forecast, year by year
Each point is the HICP inflation the swap market prices in for that single year, derived from adjacent zero-coupon tenors. The 5y5y forward, the ECB's most-watched expectations gauge, is computed from the same curve. Pair it with the ECB rate forecast for the full euro rates picture.
5y5y forward inflation
The gauge the ECB watches
1y1y forward inflation
Implied average, year 2
The EUR HICP curve in Excel & API
If you're copying this curve into a model every quarter-end, you don't need a table, you need a feed. The full zero-coupon curve, 1 to 50 years, as clean JSON or straight into your spreadsheet.
# API: the full EUR HICP zero-coupon curve GET api.bluegamma.io/v1/inflation_curve ?index=EU HICP x-api-key: your_api_key # Returns zc_rate for every tenor, 1Y–50Y, # with the discount index and curve date
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More EUR Rates Data
UK RPI Swap Rates
The UK equivalent: RPI swap rates and the market-implied RPI forward curve, 1 to 50 years.
EURIBOR Swap Rates
The EUR nominal swap curve: current and historic EURIBOR swap rates across tenors.
EURIBOR Forecast
Where the market prices EURIBOR next, from the live forward curve.
ECB Rate Forecast
The market-implied path for ECB policy rates, the driver of short-end inflation pricing.
German Bund Yield Curve
Bund yields and zero-coupon curves: the nominal side of euro breakeven pricing.
Inflation Curve API
Pull the EU HICP, UK RPI and UK CPI zero-coupon curves straight into your models as clean JSON.