Inflasi Makanan dan Implikasinya terhadap Kebijakan Moneter di Indonesia

Rulyusa Pratikto, Mohamad Ikhsan

Abstract


Food Inflation and Monetary Policy Implication in Indonesia

Controlling food inflation in Indonesia is essential mainly caused by its persistent and relatively significant impact on the poor’s purchasing power compare to other commodities. Thus, the main purpose of this study is to determine the effectiveness of monetary policy on food inflation stabilization in Indonesia. By utilizing Structural Vector Autoregression, the empirical results provided here show that monetary policy does eectively prevent the spillover effect of food to non-food inflation. In addition to that, the exchange rate may play some role in the longer period to affect the volatility of food inflation.

Keywords: Monetary Policy; Food Inflation; Structural Vector Autoregression

 

Abstrak

Pengendalian inflasi makanan penting untuk dilakukan di Indonesia terutama karena dua hal, yaitu sifat inflasi makanan yang persisten dan dampaknya terhadap penurunan daya beli keluarga miskin yang relatif tinggi dibandingkan dengan komoditas lainnya. Dengan demikian, tujuan utama penelitian ini adalah untuk mengetahui efektivitas dari kebijakan moneter terhadap pengendalian inflasi makanan di Indonesia. Dengan menggunakan metode Structural Vector Autoregression, hasil empiris menunjukkan bahwa kebijakan moneter secara efektif dapat mencegah dampak spillover inflasi makanan ke inflasi non-makanan. Selain itu, stabilitas nilai tukar dapat memiliki peran untuk mengurangi volatilitas inflasi makanan terutama pada jangka panjang.


Keywords


Kebijakan Moneter; Inflasi Makanan; Structural Vector Autoregression

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References


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DOI: http://dx.doi.org/10.21002/jepi.v17i1.658

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