Background: During the last decades, there has been increased concern about the association between oral corticosteroid (OC) therapy and osteoporosis. Objective: The question currently discussed is whether inhaled corticosteroids (ICs) in recommended doses have any clinically relevant effects on bone mineral density (BMD). Methods: We compared BMD in postmenopausal women exposed to corticosteroids only in inhaled form (IC group, n = 106) with that in women not exposed to corticosteroids (unexposed group, n = 674). BMD was also studied in 49 women exposed to OCs, intra-articular injections, or both in addition to ICs (OC group). The women were recruited from a population-based prospective cohort study. Methods: We used a dietary survey, bone density measurement of the forearm, and a health questionnaire including an interview about past and present medication use. Results: Mean BMD did not significantly differ between the IC group (0.434 g/cm²) and the unexposed group (0.429 g/cm²). The mean duration and dose of ICs was 8.2 ± 5.03 years and 853 μg daily. Within the IC group, BMD stratified for cumulative dose of IC, duration, or current dose greater than or less than 1000 μg did not differ. BMD in the OC group was lower than that in the IC group (0.408 vs 0.434 g/cm²). Conclusion: No difference in BMD was noted between the IC group and unexposed control subjects, nor was any dose-response relationship observed between IC therapy and BMD. J Allergy Clin Immunol 2003;111:91-6.