Beyoncé Blamed For Sweden’s Surprise Inflation Rise

The BBC reports:

Thought the war in Ukraine or supply chain snarls were to blame for rising prices? You must not know ’bout Beyoncé. The start of the singer’s world tour in Sweden last month sparked such a frenzy of demand for hotels and restaurant meals that it has shown up in the country’s economic statistics.

Sweden reported higher-than-expected inflation of 9.7% in May. Rising prices for hotels and restaurants were behind the surprise. Searches for accommodations in cities on the tour shot up after it was announced, Airbnb reported.

Tickets for many concerts sold out within days and prices soared on the resale market. In an email to the Washington Post last month, Visit Stockholm described the boom in tourism to the city as the “Beyoncé effect.”

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