The CPI has been showing zero rates for a long time - in Israel and around the world. Central banks interpret prices that do not rise as a slowdown in the market. After all, the market is expanding, as the population grows and the standard of living increases, demand rises - and rising demand leads to rising prices.

So why don't prices go up? In many developed countries, the population is shrinking, which is certainly a major explanation for why demand is not rising, but in Israel the population is also growing and wages are rising - which should have been reflected in rising prices.

However, alongside these familiar variables, the world economy is undergoing a digital revolution that is also reflected in market refinement, with a faster transfer of information than we have known so far - processes that first directly affect prices.

Customers purchase products and services from those available to them, and this availability is boundless; Also in online purchases, and as mentioned above, the ability to reach and obtain information on the lowest prices. The question is whether central banks are not daydreaming as they await a trend change.