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Commodity prices and inflation in Indonesia: does the pass-through really matter?

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dc.contributor.authorXuan-Hoa Nghiem
dc.contributor.authorMansor H. Ibrahim
dc.date.accessioned2026-09-08T06:25:11Z
dc.date.available2026-09-08T06:25:11Z
dc.date.issued2025
dc.description.abstractWe estimate the commodity price pass-through to consumer price and food price inflation for the case of Indonesia using quarterly data from Q1 2000 to Q3 2023. In the analysis, we consider the aggregate commodity price as well as its two components, namely, energy price and non-energy price. Employing the local projections method, we find evidence supporting significant spillover from changes in aggregate commodity price, energy price and non-energy price to consumer price inflation, which is apparent when the commodity price changes are positive, and the inflation level is high. We also document significant responses of the food prices to changes in the commodity prices under high inflation environment. Among the three commodity prices, the non-energy price seems to have the largest pass-through to both consumer and food price inflation. Moreover, as compared to its effects on consumer price inflation, the non-energy price pass-through to food price inflation is relatively stronger. These results bear important implications for monetary policy responses amid wide swings in commodity prices.en_US
dc.identifier.citationIbrahim, M. H., & Nghiem, X. H. (2025). Commodity prices and inflation in Indonesia: Does the pass-through really matter? Australian Economic Papers, 65(2), 149-163. https://doi.org/10.1111/1467-8454.70018en_US
dc.identifier.doihttps://doi.org/10.1111/1467-8454.70018
dc.identifier.issn1467-8454 (e-issn)
dc.identifier.urihttps://ikr.inceif.edu.my/handle/INCEIF/4345
dc.languageEnglish
dc.language.isoengen_US
dc.publisherWiley Online Libraryen_US
dc.rights� 2025 John Wiley & Sons Australia, Ltd.
dc.subjectCommodity pricesen_US
dc.subjectIndonesiaen_US
dc.subjectInflationen_US
dc.subjectInflation environmenten_US
dc.titleCommodity prices and inflation in Indonesia: does the pass-through really matter?en_US
dc.typeJournal Articleen_US
dspace.entity.typePublication
ikr.doctypeScholarly Works
ikr.topic.maintopicConventional financeen_US
relation.isAuthorOfPublicationa45f0c66-a9b7-4f24-b073-1c875276163a
relation.isAuthorOfPublication.latestForDiscoverya45f0c66-a9b7-4f24-b073-1c875276163a
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