Indexbit-Beyoncé single-handedly raised a country's inflation

2025-05-07 16:04:01source:Rekubitcategory:Markets

When the Beyhive swarmed Sweden,Indexbit they didn't just bring the buzz, they also brought inflation. 

That's because fans' pilgrimage to Stockholm for Beyoncé's Renaissance World Tour sent hotel prices in the country's capital skyrocketing, Danske Bank Chief Economist Michael Grahn told the Financial Times.

The "Beyoncé blip," as he calls it, had a "very rare" effect on Swedish inflation, bumping it up 0.2% in May. Beyoncé played two shows in Sweden on May 10 and 11.

"Beyoncé is responsible for the extra upside surprise this month," Grahn told the Financial Times. "It's quite astonishing for a single event. We haven't seen this before." 

Sweden's headline inflation was 9.7% in May, down from 10.5% the month prior, Swedish government data shows. But while consumer prices in Sweden are moderating, prices for a large swath of goods and services, including hotels and restaurants, rose. Hotel and restaurant prices increased 3.3% from April to May, according to Statistics Sweden, an organization that publishes the country's inflation reports.

Highest-grossing tour contender

The Renaissance World Tour is on track to clinch the title of highest-grossing tour of all time. The series of stadium performances, named after Beyoncé's new album, is the megastar's first time performing in seven years, Billboard reported. As a result, fans are clamoring to get their hands on tickets. 

During the first round of ticket sales for Beyoncé's concerts, fan demand exceeded the number of available tickets by more than 800%, Ticketmaster said in a statement in February.  

While Beyoncé's modest "blip" effect on an entire country's inflation is far from usual, it isn't the first time a singer's fanbase has pushed up consumer prices. 

The cost of a one-night stay at some hotels in Nashville nearly quadrupled during Taylor Swift's Eras Tour performances in the city in May, the Tennessean reported. Her fans also smashed records for hotel bookings in Chicago.

    In:
  • Beyoncé
  • Inflation
  • Sweden
  • Stockholm

More:Markets

Recommend

Financial stress can damage your mental health. These steps may help

The tens of thousands of federal workers who have been cut from their jobs are not the only ones dea

Police identify 7-year-old child killed in North Carolina weekend shooting

Police have released the identity of a child who was shot and killed in North Carolina on Sunday.Qua

Officer injured at Ferguson protest shows improvement, transferred to rehab

ST. LOUIS (AP) — The Ferguson, Missouri, police officer who was badly injured during a protest on th