The purpose of this study was to analyze the effect of e-money, the money supply, and the exchange rate on inflation. These results will be analyzed from an Islamic perspective. This research is quantitative research. The object of this research is by browsing the official websites of Bank Indonesia (BI) for 2012–2021 and the Central Bureau of Statistics (BPS) for 2012–2021. This research uses non-probability sampling with a purposive sampling technique. The population of this study is all time series variables like e-money, the money supply, and the exchange rate against inflation with data collection techniques through library research. The results of this study indicate that e-money and the money supply have a positive effect on inflation, with the tcount e-money of 3.609 and the money supply of 4.269. While the exchange rate variable has no effect on inflation, this is evidenced by the tcount of 1.884. In addition, each of the variables, e-money, the money supply, and the exchange rate, simultaneously has a positive effect on increasing inflation with a fcalculated of 5.512. This is because the use of e-money, the money supply, and uncontrolled exchange rates will adversely affect the economy, especially the inflation rate, and will adversely affect the level of income distribution and allocation of factors of production of a country.
Keywords: Inflation on islamic perspective, E-money, Money supply, and Exchange rate