<![CDATA[Rising rice prices have emerged as a critical challenge for food security, inflation management, and household welfare in urban Indonesia. In response, the government has implemented the Food Supply and Price Stabilization (SPHP) program and Rice Food Assistance as complementary policy instruments. However, empirical evidence regarding their effectiveness in stabilizing food markets remains limited. This study investigates the impact of these interventions on rice price volatility, overall Consumer Price Index (CPI) volatility, and food-related CPI volatility in Medan City, Indonesia. Using a quantitative before–after policy evaluation design, the study analyzes monthly time-series data from 2019–2023. Market stability is assessed through the Coefficient of Variation (CV), Corrected Coefficient of Variation (CCV), and Standard Deviation of Log Price Differences (SDD), complemented by paired-sample statistical tests. The results indicate that SPHP distribution alone had a limited effect on reducing rice price levels and market volatility. However, the integration of SPHP with Rice Food Assistance significantly reduced rice price volatility and overall CPI volatility compared with the pre-intervention period. In contrast, its effect on food-related CPI volatility remained modest, reflecting the influence of other highly volatile food commodities. This study proposes a Dual-Track Food Market Stabilization Framework that integrates supply-side market intervention and demand-side social protection, demonstrating that food assistance programs can simultaneously strengthen social protection, inflation control, and food market stability.]]>
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