The study aims to determine the effect of the money supply and exchange rates on rice prices with inflation as an intervening variable. Secondary data is time series 2015-2019 from BPS and BI, and is analyzed using a path analysis model which is an extension of multiple linear regression. The results showed that the money supply had a negative and significant effect on inflation, while the exchange rate had a positive and insignificant effect on inflation. Another finding is that the money supply has a positive and significant effect on rice prices, the exchange rate has a negative and insignificant effect on rice prices, and inflation has a negative and significant effect on rice prices. The third finding is that inflation as an intervening variable only mediates the money supply to the price of rice.
                        
                        
                        
                        
                            
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