Prague Stock Exchange Index (PX) is an index of the most liquid shares on Prague Stock Exchange. Prague is the capital of the Czech Republic in Europe. The history of the Prague Stock Exchange index dates back to 1993.
The development of PX index can be found for example on websites:
- Bloomberg website (5-year history of the PX index),
- Prague Stock Exchange (the website shows the history of the index since 1993)
- kurzy.cz (the Czech website, PX index is there for the last 10 years).
Trading Economics
The entire history of the PX index is also available on the web Trading Economics: Czech Republic Stock Market (SE PX). These pages also show trends with possible forecasts. However, the trend forecast differs according to the selected period for which the graph is analyzed.
PX Index compared to CPI
You can add a comparison of development with other indicators to the trend forecast chart (menu: Forecast / Comparison). I added the development of the price level of the CZECH REPUBLIC CONSUMER PRICE INDEX (CPI) to the development (Forecast / MAX) of the CZECH REPUBLIC STOCK MARKET (SE PX). It was an option in the chart settings: Forecast / MAX / Compare / Pick country: Czech Republic / Pick indicator: Consumer Price Index CPI). Here is the result.
source: tradingeconomics.com
PX Index compared to MONEY SUPPLY M0
When I added the money supply indicator CZECH REPUBLIC MONEY SUPPLY M0 to the chart, the result was as follows.
source: tradingeconomics.com
PX Index compared to the Inflation Rate
When the development of the PX index was compared with the inflation rate, we have the following result.
source: tradingeconomics.com
My calculation of the average growth rate
Now, the PX index is worth 913.06 points (14 Aug 2020). The PX index was worth 335.20 points in history (7 Sep 1993) according to PX Statistics. This is an increase of 173 percent during its 27-year history (see calculation):
When we calculate the geometric mean of the value 2.73, we get the average growth rate of the index, which is 1.038. This corresponds to an average growth of 3.8 percent per year.
You can compare this with the inflation rate in the Czech Republic in recent years. Note: the tracked period is not exactly the same, however you can adjust the calculation for the period you want to track.