Beyoncé gets blamed for rising inflation in Sweden
2 min read
Jason LaVeris/FilmMagic
As per the news, Beyoncé’s visit to Sweden might have been the reason for the increasing inflation rate in the country. Moreover, the prices of certain goods and services such as hotels, restaurants, and clothing climbed by 9.7 percent in May.
Here is everything you need to know.
Why is Beyoncé being pinned for inflation in Sweden?
Beyoncé visited Stockholm, Sweden last month for her Renaissance World Tour in Stockholm, Sweden.
In addition, she is expected to perform multiple shows across Europe and North America in the coming months.
Michael Grahn, chief economist for Sweden at Danske Bank (Denmark’s largest bank), took to his social media handle to express his disbelief that Beyoncé is the reason why the inflation rate was higher than expected.
He wrote, ‘Beyonce’s start of her world tour in Sweden seems to have colored May inflation, how much is uncertain, but probably 0.2 p.p. of the 0.3 p.p that hotels/restaurants added. Perhaps also hiked concert ticket prices (recreation). Otherwise as expected.’
🇸🇪 Beyonce's start of her world tour in Sweden seems to have coloured May inflation, how much is uncertain, but probably 0.2 p.p. of the 0.3 p.p that hotels/restaurants added. Perhaps also hiked concert ticket prices (recreation). Otherwise as expected.
— Michael Grahn (@MichaelGrahn1) June 14, 2023
1/ pic.twitter.com/GZgjqDBK6y
He continued, ‘We expect this upside surprise to be reversed in June as prices on hotels and tickets reverse back to normal.’
According to the BBC, many fans from around the globe flocked to Sweden’s capital city to watch the Halo singer’s performance.
It appears like the fans were seeking to take advantage of the decreasing Swedish krona as well as cheaper ticket prices.
Grahn stated 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.’
Beyoncé’s Renaissance World Tour is a highest-grossing tour contender
Beyoncé’s ongoing Renaissance World Tour is steadily moving forward to claim the title of highest-grossing tour of all time.
Subsequently, fans are clamoring to get their hands on her concert tickets considering it’s the 41-year-old singer’s first time performing in seven years.
Furthermore, Ticketmaster claimed in a statement earlier this year in February that the fans’ demand crossed the number of available tickets by more than 800% when the first round of Beyoncé’s ticket sales began.
Beyoncé has performed in multiple European capitals as part of her tour including Brussels, Cardiff, Edinburgh, and London for five nights.
The Crazy in Love hitmaker is slated to perform in Germany, the Netherlands, and Poland before she will head toward Canada and later the United States of America.
