Beyoncé blamed for inflation rise in Sweden

Did you believe supply chain bottlenecks or the conflict in Ukraine were to blame for pricing increases? You must be ignorant about Beyoncé.

In May, Sweden recorded inflation of 9.7%, which was more than anticipated.

The surprise was caused by rising hotel and restaurant prices.

According to Danske Bank analyst Michael Grahn, Beyoncé may have contributed to the increase in hotel prices. He added that she might have also been the driving reason for the surprisingly significant increase in recreation and culture prices.

He said in an email to the BBC: "I wouldn't... blame Beyoncé for [the] high inflation print, but her performance and global demand to see her perform in Sweden apparently added a little to it."

The singer's first solo tour in seven years will undoubtedly have a significant commercial impact. According to at least one estimate, the run's revenue might reach around £2 billion by the time it concludes in September.

When the tour was announced, searches for lodging in the tour locations soared, according to Airbnb. Numerous shows had days-long waitlists for tickets, which resulted in skyrocketing resale prices.

60,000 spectators, including supporters from Lebanon, the US, and Australia, gathered on Cardiff, the UK. In one instance, seven homeless families being accommodated in a hotel by the local authorities were reportedly kicked out to make room for her fans due to the high demand for hotel rooms related to her show in London.

Beyoncé allegedly drew admirers from all over the world to the Stockholm concerts, especially from the US, where a strong dollar versus the krona made tickets in the Nordic nation seem like a relative bargain. Beyoncé performed before a crowd of 46,000 over the course of two nights.

Visit Stockholm referred to the increase in visitors to the city as the "Beyoncé effect" in an email sent to the Washington Post last month.

Sweden's inflation reached a high of 12.3% in December. According to official statistics, the rate dropped from 10.5% in April to 9.7% last month. The financial markets anticipated 9.4% or such.

Mr. Grahn told the BBC that it is "very rare" for one player to make such an impact and said that significant soccer tournaments can have a comparable impact.

On social media, he stated that he anticipated this month's trends to stabilize.