Inflation bump in Sweden caused by Beyoncé concert

According to a top economist at Danske Bank, Beyoncé’s concert in Sweden’s capital Stockholm in May is partially responsible for a bump in inflation.

Statistics Sweden has found that from April to May, the country’s inflation increased by 0.3 percent.

Michael Grahn, Danske Bank’s chief economist, has stated that the hike was in part due to an increase in “a broad set of goods and services, for instance, hotel and restaurant visits” and “recreational services,” which include concert tickets.

“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,” Grahn explained.

“We expect this upside surprise to be reversed in June as prices on hotels and tickets reverse back to normal.”