This research aims to analyze the influence of money supply, export, and import on inflation rate in Indonesia. It employs multiple regression method to analyze a time series data between 1985 and 2016. The findings showed that money supply positively and significantly influences inflation rate; export positively and significantly influences inflation rate; and import positively influences inflation yet not significantly. These findings illustrate that Indonesia inflation is also caused by both internal (money supply) and external factors (export and import). Therefore, a policy to stabilize inflation rate shall be formulated by considering both internal and external influences.