MACROECONOMIC DYNAMICS AND COMMUNITY WELFARE: AN EMPIRICAL STUDY OF PURCHASING POWER IN MEDAN CITY

Authors

  • Hunny Lutpiah Basri Universitas Islam Negeri Sumatera Utara, Indonesia
  • Sugianto Sugianto Universitas Islam Negeri Sumatera Utara, Indonesia
  • Muhammad Ikhsan Harahap Universitas Islam Negeri Sumatera Utara, Indonesia

DOI:

https://doi.org/10.22373/al-ijtimaiyyah.v12i1.33942

Keywords:

Community Welfare, Purchasing Power, Regional Economy, Inflation, Minimum Wage

Abstract

This study analyzes the influence of key macroeconomic factors on community purchasing power as an important indicator of social and economic welfare in urban areas. Specifically, it examines the effects of Gross Regional Domestic Product (GRDP), inflation, and the Regional Minimum Wage on purchasing power in Medan City, Indonesia. Purchasing power reflects the community’s ability to meet basic and non-basic needs and plays a strategic role in sustaining social stability and improving living standards within urban society. The study employs a quantitative approach using multiple linear regression analysis based on secondary monthly data from 2019 to 2023 obtained from the Central Statistics Agency. The results show that inflation has a negative and significant effect on purchasing power, while GRDP and the Regional Minimum Wage have positive and significant effects. Simultaneously, the three variables significantly influence purchasing power, with an R-squared value of 0.691, indicating that 69.1% of the variation in purchasing power is explained by the model. These findings highlight the importance of inclusive economic growth, sustainable wage policies, and effective inflation control in strengthening community welfare. This study contributes to social and economic development discourse by providing empirical evidence to support public policies aimed at improving the purchasing power and well-being of urban communities.

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Published

2026-06-30

Issue

Vol. 12 No. 1 (2026): In Press

Section

Articles

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Copyright (c) 2026 Hunny Lutpiah Basri, Sugianto Sugianto, Muhammad Ikhsan Harahap

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How to Cite

Basri, H. L., Sugianto, S., & Harahap, M. I. (2026). MACROECONOMIC DYNAMICS AND COMMUNITY WELFARE: AN EMPIRICAL STUDY OF PURCHASING POWER IN MEDAN CITY. Jurnal Al-Ijtimaiyyah, 12(1), 20-31. https://doi.org/10.22373/al-ijtimaiyyah.v12i1.33942