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The newer (2008?) direct pressure sensors are usually pretty accurate (1-2 psi). That said, I would only use TPMS to warn you of a puncture or an active air leak. You should check your tire pressures at least once a month or so with a gauge you know is accurate.
Just checked mine against a gauge and they were all dead on except one. That one was off by 1 psi. Surprisingly, a little more accurate than I thought.
If your using an old school stick gauge it's likely that the gauge is far less accurate than the sensors. I've had new Schrader gauges off by 5-10 psi. Invest in a decent digital gauge.
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