Vliv inflace na cenu akcií v České republice

The aim of the study was to assess whether inflation in 2018-2022 affected the stock pricein the Czech Republic. Specifically, for the two companies under study, ČEZ, a. s. andKomerční banka, a. s. The method of data collection was content analysis, which was used toidentify data on the development of inflation in the Czech Republic and the development ofstock prices in the companies under study. Pearson correlation coefficient was used as a methodfor data processing. The reliability of the coefficient r was verified using t - test. From thecollected data it is evident that the development of inflation in the Czech Republic was negative.It was mainly influenced by the energy crisis and the state of war in Ukraine. The share pricedevelopment of ČEZ, a. s. was positive, the value of the share was increasing. This wasinfluenced by energy prices and higher profits in the energy sector. The price development atKomerční banka, a. s. was not favourable. The value of the share declined. Above all, the fearof an impending recession in the business cycle and the situation where the company had to pay60% of its extraordinary profits. It is not possible to determine 100% what effect inflation has on the development of shares in the Czech Republic. Once the relationship turned out positive,the other time negative. It depends on how inflation affects the sector in which companiesoperate. However, it can be said that inflation affects the share price. The limitation of theresearch was the data collected.