Beyoncé’s visit to Sweden was blamed for the Scandinavian nation’s higher-than-expected inflation.
Economists have blamed the global music star’s concert in Stockholm for inflation falling to just 9.7% in May, ahead of expectations of 9.4%.
According to data compiled by Statistics Sweden, quoted in the Guardian, a decrease in electricity and good prices was offset by a rise in prices at “instance hotel and restaurant visits, recreational services, and clothing.”
Michael Grahn, chief economist for Sweden at Danske Bank, attributed this to Beyoncé’s visit to Stockholm on 10 May.
“Beyoncé’s start of her world tour in Sweden seems to have coloured May inflation, how much is uncertain,” Grahn said.
Grahn added that her much-hyped concert “probably” accounted for 0.2% of the 0.3% added to inflation by hotels and restaurant prices.