al-Afkar, Journal For Islamic Studies
Vol. 8 No. 4 (2025)

Deflation in Islamic Economics: A Solution from the Perspective of Modern Islamic Civilization

Muhammad Nur Alim (Unknown)
Khusnuddin (Unknown)



Article Info

Publish Date
20 Nov 2025

Abstract

The phenomenon of deflation, which is characterized by a general decline in prices, is often considered a major challenge in modern economics because it can trigger economic crises, such as economic contraction and unemployment. In Islamic economics, deflation is not only viewed from a technical angle, but also from a moral and ethical perspective based on the principles of justice, balance, and public good. Islam prohibits practices such as usury and hoarding that exacerbate the effects of deflation, while encouraging wealth redistribution through instruments such as zakat, infaq and waqf.This study aims to examine the solution to deflation based on an Islamic economic perspective and its relevance in facing modern economic challenges. Using a literature-based qualitative-descriptive approach, this research explores the concepts of classical thinkers such as Al-Maqrizi and their application in the era of globalization. The results show that the application of Islamic financial instruments, the strengthening of the real sector, and the elimination of usury can create sustainable economic stability. This solution not only focuses on short-term economic recovery, but also promotes equitable and inclusive growth.

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Journal Info

Abbrev

Afkar_Journal

Publisher

Subject

Social Sciences

Description

al-Afkar, Journal for Islamic Studies is published by Association of Secondment Lecturers (Asosiasi Dosen DPK) UIN Sunan Gunung Djati Bandung Indonesia. Focus of al-Afkar, Journal for Islamic Studies is on publishing original empirical research articles and theoretical reviews of Islamic Studies, ...