We can see that inflation abroad is also low, and the case of Switzerland is prominent, as they have been coping for some time with low, and even negative, inflation, which is obviously not the situation in Israel.
If we break down the Consumer Price Index and look separately at inflation in the tradable components and inflation in the nontradable components, we can see a significant gap: Inflation of tradable goods has been negative for the past few months. In the past 12 months, prices of tradable goods declined by 0.86 percent.