PENGARUH SUKU BUNGA BANK INDONESIA, JUMLAH UANG BEREDAR (M2), DAN HARGA MINYAK DUNIA TERHADAP INFLASI DI INDONESIA PERIODE 2014-2025
DOI:
https://doi.org/10.23969/jp.v11i03.58558Keywords:
Inflation, Interest Rate, Money Supply (M2), World Oil Price, OLSAbstract
This study analyzes the effect of Bank Indonesia's policy interest rate, broad money supply (M2), and world oil price on inflation in Indonesia for the period 2014-2025. Using multiple linear regression with Ordinary Least Squares (OLS) method, the findings reveal that simultaneously, all three variables significantly affect inflation (F = 9.509, sig = 0.005). Partially, the interest rate variable does not significantly affect inflation (sig = 0.920), while money supply (M2) significantly and negatively affects inflation (sig = 0.014), and world oil price significantly and positively affects inflation (sig = 0.004). The model explains 78.1% of the variation in inflation (R² = 0.781). These results suggest that inflation in Indonesia is more dominantly influenced by external factors such as world oil prices and monetary liquidity conditions rather than interest rate policy alone.
Keywords: Inflation, Interest Rate, Money Supply (M2), World Oil Price, OLS
Downloads
References
Amanda, R. (2022). Pengaruh suku bunga, jumlah uang beredar, dan tingkat kurs terhadap tingkat inflasi di Indonesia.
Beureukat. (2022). Pengaruh suku bunga terhadap inflasi di Indonesia. Olikonomia: Jurnal Manajemen.
Keynes, J. M. (1936). The general theory of employment, interest and money. London, UK: Macmillan.
Khairati, Z., & Idamiharti. (2024). Pengaruh faktor eksternal terhadap IHSG di Bursa Efek Indonesia. Jurnal Ilmiah Manajemen dan Bisnis (Jambura), 7(2), 963–972.
Mishkin, F. S. (2008). The economics of money, banking, and financial markets. Boston, MA: Pearson Education.
Muslimah. (2021). Pengaruh suku bunga Bank Indonesia dan jumlah uang beredar terhadap tingkat inflasi dan pertumbuhan ekonomi Indonesia tahun 2010–2020. UIN Alauddin.
Nizar, H., Hadi, M., Khoirul, F., & Ervi, S. (2020). Dampak makro ekonomi dan financial performance terhadap market share perbankan syari'ah. Jurnal Ekonomi, 25(1), 51.
Qorina, N. A., & Sekaringsih, R. B. (2025). Analisis pengaruh harga minyak dunia, suku bunga dan nilai tukar terhadap inflasi di Indonesia periode 2018–2024. Sunan Kalijaga Islamic Economics Journal, 2(1), 306–312.
Setyawati, P., Handayani, M., Pitoyo, B. S., & Yunita, T. (2024). Analisis harga minyak dunia, nilai tukar, dan suku bunga pada tingkat inflasi di Indonesia periode 2015–2022.
Yanti, Y. W. T. F., & Soebagiyo, D. (2022). Analisis pengaruh JUB, suku bunga, dan nilai tukar terhadap inflasi di Indonesia tahun 2005–2021. Jurnal Ekonomi Pembangunan, 8(2), 265–277.
Downloads
Published
Issue
Section
License
Copyright (c) 2026 Pendas : Jurnal Ilmiah Pendidikan Dasar
This work is licensed under a Creative Commons Attribution 4.0 International License.
