How Beyoncé Single-Handedly Raised Inflation in Sweden

June 18, 2023

Beyonce performs in Stockholm Sweden on May 10, 2023 Kevin Mazur/Getty Images for Parkwood

*Beyoncé’s tour stop in Sweden literally left a mark.

When fans of the superstar descended upon Stockholm for her two Renaissance World Tour concerts on May 10 and 11, prices in the country’s capital skyrocketed, according to an interview with Danske Bank Chief Economist Michael Grahn in the Financial Times.

He calls it the “Beyoncé blip,” adding it had a “very rare” effect on Swedish inflation, bumping it up 0.2% in May.

“Beyoncé is responsible for the extra upside surprise this month,” Grahn said “It’s quite astonishing for a single event. We haven’t seen this before.”

Sweden’s inflation was 9.7% in May, down from 10.5% the month prior, according to Swedish government data . But while consumer prices in Sweden are moderating, hotel and restaurant prices increased 3.3% from April to May, according to Statistics Sweden, an organization that publishes the country’s inflation reports.

Meanwhile, the Renaissance World Tour is on track to become the highest-grossing tour of all time. Billboard notes that her series of stadium performances, named after Beyoncé’s new album, marks her first time performing in seven years.