{"id":76404,"date":"2023-06-15T14:38:01","date_gmt":"2023-06-15T14:38:01","guid":{"rendered":"https:\/\/www.ghanamma.com\/2023\/06\/15\/beyonce-blamed-for-the-surprise-rise-in-inflation-in-sweden\/"},"modified":"2023-06-15T14:38:01","modified_gmt":"2023-06-15T14:38:01","slug":"beyonce-blamed-for-the-surprise-rise-in-inflation-in-sweden","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2023\/06\/15\/beyonce-blamed-for-the-surprise-rise-in-inflation-in-sweden\/","title":{"rendered":"Beyonc\u00e9 blamed for the surprise rise in inflation in Sweden"},"content":{"rendered":"

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LOS ANGELES, CALIFORNIA – MARCH 14: Beyonc\u00e9 accepts the Best Rap Performance award for ‘Savage’ onstage during the 63rd Annual GRAMMY Awards at Los Angeles Convention Center on March 14, 2021 in Los Angeles, California. (Photo by Kevin Winter\/Getty Images for The Recording Academy)<\/figcaption><\/figure>\n<\/div>\n

Swedish consumers now have Beyonc\u00e9 to blame for their bills.<\/p>\n

The chief economist at Danske Bank, the biggest bank in neighbouring Denmark, said Wednesday that the singer\u2019s decision to kick off her \u201cRenaissance\u201d world tour in Stockholm last month led to a surge in hotel and restaurant prices in the area as tens of thousands of fans descended on the city.<\/p>\n

Michael Grahn estimated that the extra demand from Beyonc\u00e9\u2019s fans, known collectively as the BeyHive, was behind two-thirds of the price rises seen in the hospitality sector in May.<\/p>\n

That, in turn, contributed to a more modest decline in overall inflation than had been expected. Annual consumer price inflation eased to 9.7% in May from 10.5% the previous month, official statistics show, while economists polled by Reuters had predicted a sharper slowdown to 9.4%.<\/p>\n

\u201c[That\u2019s] definitely not normal,\u201d Grahn told CNN. \u201cStars come here all the time, [but] we seldom see effects like this.\u201d<\/p>\n

Grahn said many fans had travelled to Sweden for the two sold-out concerts in the country as tickets were relatively cheaper than elsewhere and a \u201cvery weak\u201d Swedish currency boosted their spending power.<\/p>\n

Some of Beyonc\u00e9\u2019s US fans told BuzzFeed News in February that they had snapped up tickets for the singer\u2019s Swedish concerts at a huge discount to her US shows.<\/p>\n

Grahn noted that \u201cthere are a limited number of hotels and accommodations in the Stockholm area,\u201d adding that hotels as far away as 50 kilometres (31 miles) from the capital put up their prices as a result.<\/p>\n

Still, he expects the Beyonc\u00e9 effect to be short-lived, with hotel prices likely to fall over June.<\/p>\n

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