PENGARUH TINGKAT INFLASI TERHADAP VOLATILITAS HARGA SAHAM BUKA: STUDI DATA PADA TAHUN 2022-2024

Abstract

Pasar modal berperan penting dalam mendukung perekonomian suatu
negara, termasuk melalui indeks saham seperti LQ45 di Indonesia. Penelitian
ini berfokus pada pengaruh inflasi terhadap volatilitas harga saham pada
perusahaan Bukalapak (BUKA), salah satu emiten dalam indeks LQ45. Inflasi
diartikan sebagai kenaikan harga barang secara umum dan berkelanjutan,
yang berpotensi memengaruhi volatilitas harga saham. Volatilitas
mencerminkan risiko yang dihadapi investor akibat fluktuasi harga saham.
Penelitian ini menggunakan metode deskriptif kuantitatif dengan uji normalitas
dan uji korelasi Spearman. Penelitian ini memperoleh hasil variabel standar
deviasi harga saham dan standar deviasi inflasi tidak memiliki hubungan yang
signifikan. Nilai korelasi yang diperoleh bernilai positif sebesar 0,0781 atau
sebesar 0,78% maka bisa diartikan bahwa arah hubungan kedua variabel
searah tetapi tergolong sangat lemah. Dalam artian lain apabila hasil
dari Spearman’s rho bernilai positif, maka volatilitas harga saham mengikuti
nilai inflasi yang berlangsung pada periode tersebut.

The capital market plays a crucial role in supporting a country's economy,
including through stock indices like LQ45 in Indonesia. This study focuses on
examining the impact of inflation on stock price volatility, specifically for
Bukalapak (BUKA), one of the companies listed in the LQ45 index. Inflation
refers to a general and sustained increase in the price of goods, which can
influence stock price volatility. Volatility represents the risk faced by investors
due to fluctuations in stock prices. The study employs a quantitative
descriptive method with normality test and Spearman’s correlation test. The
findings aim to reveal the relationship between inflation and stock price
volatility, as well as its implications for investors. The results are the standard
variable deviation of stock prices and the standard deviation of inflation did not
have a significant correlation. The correlation value obtained has a positive
value of 0.0781 or 0.78%, so it can be interpreted that the direction of the
correlations between the two variables is in the same direction but is classified
as very weak. In another, if the result of Spearman's rho is positive, then the
volatility of the stock price follows the inflation value that takes place in that
period.