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What if "Queen B" had the power to pull inflation curves up? However absurd it may seem, the hypothesis is nevertheless supported by the most serious economists in Sweden. The Nordic country's statistics office released May inflation figures on Wednesday. The 0.2 point drop from the previous month is much lower than expected by the country's economic community, which immediately pointed to the inauguration of superstar Beyoncé's world tour in Stockholm in may.
The chief economist of one of the main Swedish banks, Danske Bank, did not hide his astonishment when delivering his analyzes on inflation. “Beyoncé is the source of this month's extra surprise. That's pretty amazing for a single event. We have never seen this before,” he told the Financial Times. The economist relies on detailed data from the Swedish statistics office. Two sectors in particular boosted Swedish inflation in May: hotels and restaurants, which contributed 0.3 points, and leisure, which added 0.2 points.
The American artist with hundreds of millions of records sold has decided to launch his world tour in the city of Stockholm in mid-May. No longer seen on stage for seven years, Beyoncé attracted nearly 100,000 people on the two inaugural dates of her “Renaissance Tour”. Fans from all over the world rushed to the Swedish capital to attend this historic event, including Americans, eager to take advantage of tickets with a lower face value than in the United States, where prices are soaring. .
The world tour of “Queen B” has since continued in other European countries, including France, without such macroeconomic effects being felt. The Swedish economic community wants to be reassuring: the timid decline in inflation in May is therefore explained by cyclical effects and prices should fall more sharply in June. Some are worried, however, even at the central bank of Sweden about three Bruce Springsteen concerts which will take place in Stockholm during the month of June. Something to thwart the predictions again.
