Economist blames Beyoncé for generating inflation… in Sweden

The fall in electricity and food prices contributed to lowering inflation, but the rise in prices for services, culture, hotels and restaurants, among others, attenuated the general drop.

According to Michael Grahn, the chief economist in Sweden at Danske Bank, the main Danish bank but also with a presence in Sweden, this effect has to do with the two concerts that Beyoncé gave in Stockholm in May and which marked the start of her “Renaissance” world tour. World Tour”, the artist’s first solo tour in seven years.

“The start of Beyoncé’s world tour in Sweden seems to have influenced May inflation, how much is uncertain, but probably 0.2 or 0.3 percentage points from hotels. Perhaps concert prices went up as well,” Grahn wrote. on his Twitter account, in a comment that has gone viral.

As explained by the economist in a video on the Danske Bank website, the concerts, which brought together some 90,000 people in total, part of them coming from abroad, caused hotel rooms to run out in the Stockholm area and a “real” increase ” Of the prices.

“We expect this surprise rise to reverse in June once hotel and ticket prices return to their normal level,” Grahn said.