Beyoncé increases Swedish inflation – will Springsteen do the same?

There was a lot of mentions in the media last week about the impact of Beyonce starting her world tour in Stockholm. The fact that this is her first tour in seven years has seen two sold-out shows with close to 100,000 people attending. In May, Sweden reported an inflation rate of 9.7%, and analysts say about 0.2% of that was due to Beyoncé starting her “Renaissance” world tour in Stockholm. The concerts sparked a frenzy that drove demand for hotels and restaurants, making prices soar to new highs. Later this month Bruce Springsteen plays three nights in Gothenburg – will this have a similar effect and is this something economists should be weary of? Big sporting events such as the Football World Cup and the Olympic Games have an impact on inflation mainly because they take place over a long period of time usually a month. But for a single event it is unusual. Below is a video from CBS News.

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