The start of the singer's world tour in Sweden in May sparked such a demand for hotels and restaurants that it could explain why the rate of inflation was higher than expected in the country for that month, according to an economist.
Two concerts performed by Beyonce in Stockholm last month may have caused Swedish inflation to rise, a senior economist has suggested.
The American superstar kicked off her Renaissance World Tour in Sweden, playing two sold out gigs in the Swedish capital on 10 and 11 May. And it appears the demand for hotel rooms and restaurant bookings was so intense that it pushed up the official inflation statistics. Michael Grahn, Danske Bank's chief economist for Sweden, tweeted:"Beyonce's start of her world tour in Sweden seems to have coloured May inflation."
The exact amount is"uncertain", he added, but said the concerts"probably" added about 0.2% to the overall rise of 9.7%.Mr Grahn told the Financial Times it was an"astonishing" development and not something Sweden had experienced before.He added on Twitter:"We expect this upside surprise to be reversed in June as prices on hotels and tickets reverse back to normal.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Beyonce blamed for inflation surprise in SwedenThe frenzy stoked by the start of the singer's world tour is seen driving up prices in Sweden.
Read more »
Beyonce ditches honey blonde hair for a clean 'mayo' blonde after London tourBeyoncé has switched from her signature honey blonde hair to a new clean 'mayo' blonde style after wrapping up the London leg of her Renaissance tour, and it looks absolutely stunning.
Read more »
Beyoncé blamed for stubbornly high Swedish inflation\n\t\t\tKeep abreast of significant corporate, financial and political developments around the world.\n\t\t\tStay informed and spot emerging risks and opportunities with independent global reporting, expert\n\t\t\tcommentary and analysis you can trust.\n\t\t
Read more »
Prodigy singer's old pub may be taken over by Essex communityKeith Flint, who died in 2019, ran The Leather Bottle in Pleshey, Essex, between 2014 and 2017.
Read more »