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PPIE Faculty of Economics and Business Universitas Indonesia (FEB UI) Doctor Discusses Consumer & Retail Prices in Indonesia - Universitas Indonesia
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PPIE Faculty of Economics and Business Universitas Indonesia (FEB UI) Doctor Discusses Consumer & Retail Prices in Indonesia

Universitas Indonesia > News > Faculty of Economics and Business News > PPIE Faculty of Economics and Business Universitas Indonesia (FEB UI) Doctor Discusses Consumer & Retail Prices in Indonesia

One of the main economic problems in Indonesia is the retail prices in the market. From an economic analysis point of view, retail prices can be used to provide an overview of the performance of different types of commodities. The price differences that occur between regions in Indonesia raise questions as to why this is the case.

Retail prices in Indonesia are volatile and vary between regions. Changes in retail prices affect the formation of inflation in Indonesia. It is theoretically known that prices formed in efficient markets have characteristics such as agglomerate markets, where even if there is an external shock, prices will quickly converge back to equilibrium.

This was conveyed by Promovenda Masarina Flukeria when presenting her dissertation entitled “Essay on Prices in Indonesia: Spatial Dependence, Consumer Price Index, and Retail Price Analysis in Indonesian Retail Market Using Micro Data Perspective” at the open doctoral promotion session held by the Graduate Program in Economics, Faculty of Economics and Business, Universitas Indonesia (PPIE FEB UI).

In the session, Masarina said that this research aims to recommend and encourage the preparation of a consumer price index (CPI) that is responsive to public consumption patterns, determine the spatial dependence between retail prices in one region and another, and determine the effect of product differentiation and market type on price dispersion and volatility. Most of the data used comes from the Central Bureau of Statistics (BPS).

The doctoral promotion session was chaired by Teguh Dartanto, Ph.D., with Prof. M. Ikhsan, Ph.D., as Promoter, Dr. Beta Yulianita Gitaharie as Co-Promoter 1, and M.H.A. Ridhwan, Ph.D., Co-Promoter 2. Meanwhile, the Examination Team was chaired by Vid Adrison, Ph.D., with members consisting of Dr. Mahjus Ekananda, Jahen F. Rezki, Ph.D., Yohana Magdalena Lydia, Ph.D., and Dr. Sasmito Hadi Wibowo.

The research conducted by Masarina shows that the CPI formula, which is built by taking into account price elasticity, is more rational because the facts on the ground show that changes in the price of a commodity are also followed by changes in consumption volume, especially for normal goods. Meanwhile, retail prices also show spatial dependence between regions.

On the other hand, the results indicate that more product differentiation does not necessarily result in higher price dispersion and volatility. Modern markets have lower price dispersion and volatility compared to traditional markets for the case of sugar in Indonesia. “Price policy applied to an area that has spatial dependence with the surrounding area will have an impact on the surrounding area. Price stability, which is the focus of macroeconomic policy, needs to be supported by price research from a micro perspective,” said Masarina at a doctoral promotion session held in early January 2022.

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