Ramadan is a significant annual momentum for Muslims to morally, spiritual, and materially self-improvement. Apart from being the essential spiritual time, Ramadan in Indonesia is also a powerful economic season due to the enormous economic implications of activities related to Ramadan, one of which is the tendency to increase the prices of staple goods.
In Indonesia, the increase in the prices of staple goods is closely related to the month of Ramadan. The increase in the prices of staple goods such as rice, chicken, eggs, cooking oil, shallots, cayenne pepper, and beef began a week before Ramadan, triggered by people’s preparations for the holy month. Price pressures for staple goods returned a week before the end of the month of Ramadan when people are preparing to welcome Idul Fitri. Price pressure often continues until a week after the Idul Fitri holiday, triggered by the lack of availability of goods in the market because traders do not have interests in stock or because traders’ operations have not returned to normal.
