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All Journal Journal of Management, Economic, and Accounting
Muhammad Pane
Universitas Pembangunan Panca Budi
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

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The Effect of World Oil Prices, Rupiah Exchange Rate, and Interest Rates on Inflation in Indonesia Muhammad Pane; Rahmad Sembiring; Annisa Ilmi Faried
Journal of Management, Economic, and Accounting Vol. 5 No. 4 (2026): Oktober
Publisher : Universitas Dehasen Bengkulu

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37676/jmea.v5i4.1887

Abstract

From January 2016 through February 2026, this research will examine the impact of global oil prices, the rupiah exchange rate, and interest rates (BI-7 Day Reverse Repo Rate) on Indonesia's inflation rate. Applying multiple linear regression to 122 months of observational data, the research used a quantitative approach. There was no significant relationship between inflation and global oil prices (t = 1.754; sig. = 0.082), the rupiah exchange rate (t = -1.570; sig. = 0.119), or interest rates (t = -0.936; sig. = 0.351), according to the partial test findings. All three factors do not significantly affect inflation when taken together, according to the simultaneous test (F test), which revealed a F count of 2.417 with a significance level of 0.070 > 0.05. With an Adjusted R2 of 3.4%, it's clear that variables unrelated to the model dominate inflation dynamics. These results show that the government's and Bank Indonesia's intervention strategy to stabilise energy prices and the exchange rate reduces the impact of external shocks on domestic inflation.
Co-Authors , Rahmad Sembiring Faried, Annisa Ilmi