What is GPIPS and why does it matter for Ramadan 2026?

GPIPS is Bank Indonesia’s supply-side program to steady volatile staples through stockpiles, inter-province shipments, market operations, and closer price monitoring. It targets items like rice, chilies, sugar, eggs, and cooking oil. With Ramadan 2026 starting around Feb 18–19, these measures aim to limit weekly price spikes that typically appear during seasonal demand surges.

How could Indonesia food inflation affect Singapore shoppers and investors?

Indonesia food inflation can feed into regional wholesale quotes and shipping flows. If prices spike, Singapore may see higher input costs for supermarkets and F&B operators. Stable Indonesian prices reduce pass-through risk, supporting margins. Investors should monitor food CPI, company sourcing updates, and FX trends to gauge earnings sensitivity in the coming weeks.

Which Singapore sectors are most exposed during Ramadan 2026?

Supermarkets, F&B operators, and logistics firms with ASEAN exposure are most sensitive. Short-lived spikes in staples can pressure margins if pricing lags. Companies with diversified sourcing, cold chain, and strong house-brand programs typically manage costs better. Watch procurement disclosures, promotion intensity, and inventory turns to assess resilience during the Ramadan 2026 demand window.

What indicators should I track over the next month?

Watch Indonesia’s weekly wholesale prices for rice, chilies, eggs, sugar, and cooking oil, plus inter-island freight rates and rupiah moves. In Singapore, follow February and March CPI releases and retailer updates on promotions or supplier changes. Combine these with shipping and weather news to assess how Ramadan 2026 may affect near-term margins and inflation.

Global Market Insights

February 16: Indonesia Targets Ramadan 2026 Food Inflation With GPIPS

ByDanny Kontos February 16, 2026February 16, 2026

Ramadan 2026 is set to begin around Feb 18–19. Bank Indonesia is activating the GPIPS supply-side program to steady Indonesia food inflation after January CPI rose 3.55% year on year, largely from food. For Singapore investors, seasonal demand and climate risks can shift Ramadan food prices across ASEAN. These moves influence CPI, FX pass-through, and consumer margins. We explain how Bank Indonesia GPIPS may shape near-term price dynamics and what to track to protect portfolios in Singapore.