Start of superstar’s world tour ‘seems to have coloured inflation’, says economist, after tens of thousands of fans flocked to the capital for concerts
Consumer prices rose by 9.7% in May year-on-year, down from 10.5% in April, the first time inflation has come in under 10% in over six months.
According to Michael Grahn, chief economist for Sweden at Danske Bank, a visit by Beyoncé to Stockholm could explain why the rate was higher than expected. Grahn said that her much-hyped concert in May “probably” accounted for 0.2 of the 0.3 percentage points added to inflation by hotels and restaurant prices.
It was reported that a number of fans had travelled from overseas to see the shows, taking advantage of the weak Swedish currency and lower ticket prices.
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