Inflation is a general, ongoing rise in the prices of goods and services, so the same money buys less over time. Statistics Indonesia (BPS) recorded annual inflation of 3.28% in September 2026. That means something that cost Rp10,000,000 a year ago now costs about Rp10,328,000.

This article explains inflation in plain terms. Then it works out what happened to Rp10 million over the last 12 months if you kept it as cash, put it in a bank savings account, or placed it in gold, US stocks, and ETFs. Every number is dated, and every option has its own risks.

Key Takeaways

• Indonesia's annual inflation was 3.28% in September 2026, up from 3.19% in August and 2.65% in September 2025.
• Rp10 million kept as cash for a year loses about 3.2% of its purchasing power. The amount stays Rp10 million, but it is worth only about Rp9.68 million in last year's money.
• In the simulation from October 24, 2025 to October 23, 2026, gold, an Apple token, and an S&P 500 ETF token all returned more than inflation. Most of the gap came from the rupiah weakening 8.9% against the US dollar.
• Past results do not guarantee future results. Prices can fall, and the exchange rate effect can reverse.

What Is Inflation? A Short Definition

Inflation measures how fast prices rise. If inflation is 3% a year, something that costs Rp100,000 this year costs about Rp103,000 next year. Your money does not shrink in your account, but its buying power does.

Some common causes of inflation:

• Demand rises faster than supply. Goods become scarce, so prices go up.
• Production costs rise. Higher raw material, energy, or wage costs push selling prices up.
• Imported goods get pricier. A weaker rupiah makes imports more expensive.
• Food prices. Harvest or distribution problems can push inflation up quickly.

The opposite is deflation, a general fall in prices. It sounds nice, but if it lasts a long time it can signal weak demand.

Indonesia's Inflation Now

Media reports cite food and gold prices as drivers of September 2026 inflation. BPS publishes this figure and it changes every month, so check the latest release before you decide anything.

Why Idle Cash Loses Purchasing Power

Say you keep Rp10,000,000 in cash for 12 months and inflation is 3.28%. The amount stays Rp10,000,000. But what cost Rp10,000,000 before now costs Rp10,328,000, so your money is worth only about Rp9,682,000 in last year's money.

You did not lose money in your account. What you lost is buying power. That is why people look for a place for their money that at least keeps up with inflation.

Simulation: Rp10 Million Over 12 Months

This simulation uses the closing price on October 24, 2025 as the start and October 23, 2026 as the end. Inflation is assumed at 3.28% (the annual figure for September 2026). The rupiah rate moved from Rp16,602 to Rp18,078 per US dollar, so the rupiah weakened about 8.9%.

How to read this table:

• A weaker rupiah lifts the result. Gold fell 2.86% in dollars, but in rupiah it rose 5.78% because of the exchange rate. If the rupiah strengthens, the effect flips.
• One stock is far more volatile than an index. Apple rose sharply in this period, but a single stock can also fall sharply. The S&P 500 ETF spreads risk across 500 companies.
• The savings figure is a ceiling. The LPS guaranteed rate of 3.75% is the highest rate the LPS deposit guarantee covers. Actual bank savings rates can be lower.
• These are raw prices. The calculation does not include transaction fees, the gap between buy and sell prices, taxes, or price differences in the app. Real results can be lower.

Gold, US Stocks, or ETFs: How Do They Relate to Inflation?

Gold. Gold is often seen as a store of value when prices rise. But its price does not always go up, and in this simulation period world gold actually fell in dollars. On Mobee, you can start with Digital Gold. Full explanations are in Digital Gold and Saving in Digital Gold.

US stocks. Large companies can often raise their selling prices when costs go up, which helps protect their profits. That is one reason stocks are discussed as a counterweight to inflation. But share prices can fall at any time. Mobee offers an Apple token, a token that follows the Apple share price. Learn how it differs from a real share in Tokenized US Stocks vs Regular Stocks. For the basics, read How to Trade Stocks on Your Phone.

ETFs. An ETF like SPY follows the S&P 500 index, so one token reflects the movement of 500 large US companies. Risk is spread wider than with a single stock, but it still falls when the market falls. Mobee offers an S&P 500 ETF token (SPY). The basics of ETFs are in ETFs.

The theme of commodity assets as a value hedge is covered in Understanding Commodity Stocks.

What You Need to Understand

• Exchange rate. Gold, US stocks, and US ETFs are priced in dollars. A weaker rupiah lifts your result, and a stronger rupiah lowers it.
• Past results are not a guarantee. The numbers in the simulation only show what happened, not what will happen.
• A token is not the underlying asset. A token follows the price of its reference asset. It is not direct ownership of gold, shares, or ETF units.
• Fees and taxes. Transactions in crypto assets and tokens carry platform fees and taxes. Check the latest terms on Mobee and talk to a tax consultant.
• Position size. Do not put your emergency fund or money you need soon into assets whose prices can fall.

How to Get Started on Mobee

Mobee is operated by PT CTXG Indonesia Berkarya, which is licensed and supervised by OJK.

1. Sign up and verify. Complete account verification (KYC) in the Mobee app.
2. Deposit rupiah. Add a rupiah balance to your Mobee account.
3. Choose an asset. Find Digital Gold, SPY, or AAPL in Spot Trade.
4. Set the amount. Start with a small amount that fits your risk profile, then confirm the order.
5. Monitor. You can check the value of your assets in the app at any time.

Conclusion

Inflation of 3.28% means idle cash slowly loses purchasing power. In the simulation over the last 12 months, gold, ETFs, and US stocks returned more than inflation, but mostly because the rupiah weakened, and that result can reverse. No option is risk free. Understand each asset, start with a small amount, and match it to your goals and risk profile.

FAQ

Disclaimer

This content is meant to give readers additional information and is not an invitation to buy or sell any asset. Prices of crypto assets and tokenized assets are volatile and carry risk. The simulation uses historical data and does not guarantee future results. Always do your own research before you trade.