Bills Bills Bills: Beyoncé blamed for Sweden’s shock rise in inflation
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According to reports, the cause of the unexpectedly raised inflation in Sweden the previous month is believed to be the influence of American singer Beyoncé.
The country experienced a decline in inflation in May, as reported by the government's statistics. However, it remained slightly higher than anticipated despite a drop in electricity and food prices. The rate of inflation went down from 10.5 to 9.7 percent. Nevertheless, the authorities pointed out that hotel and restaurant fees increased, which led to an upward pressure on inflation.
According to Michael Grahn, who works as an economist at Danske Bank, the reason behind this could possibly be the commencement of Beyoncé's Renaissance World Tour in Stockholm on 10th May.
The speaker stated to BBC that the increase in inflation wasn't solely caused by Beyoncé's performance in Sweden, but it did contribute to it as her concert attracted a lot of international attention and demand.
Visit Stockholm referred to the recent surge in tourism in the nation as the "Beyoncé effect" in the previous month.
Based on the statement of Birgitta Palmér, who is the press representative of the agency, tourists from the United States, Germany, and the United Kingdom made up the majority of reservations in the city during May. Evidently, they seized the opportunity to benefit from the reduced ticket rates and the disadvantaged Swedish monetary value.
According to the Wall Street Journal, Grahn revealed that this outcome was not very common and he predicted that it would resolve itself by the coming month. But, as per the Financial Times, a different economist cautioned that Sweden might undergo a comparable rise when musician Bruce Springsteen holds three concerts in Gothenburg in June.
According to Nicole Vassell's review on The Independent, she gave Beyoncé's Cardiff concert a rating of four out of five stars. Vassell also mentioned that Beyoncé, who is currently in her forties, is giving some of the best performances of her career.
"She rode her disco horse into the distance, leaving behind a crowd of thousands who were awestruck by the amazing music and visual journey that they experienced with her," the speaker explained.
On May 26, during a concert in Paris, the famous performer was accompanied by her daughter, Blue Ivy Carter.
Blue Ivy dressed in a set of shiny silver pants with pockets and a sequin shirt that covered her neck. She then completed her look with matching military boots and a set of sunglasses.
Beyoncé is embarking on a global tour that will feature 50 performances, with the last one taking place in September.