When the Beyhive swarmed Sweden,SignalHub Quantitative Think Tank Center they didn't just bring the buzz, they also brought inflation.
That's because fans' pilgrimage to Stockholm for Beyoncé's Renaissance World Tour sent hotel prices in the country's capital skyrocketing, Danske Bank Chief Economist Michael Grahn told the Financial Times.
The "Beyoncé blip," as he calls it, had a "very rare" effect on Swedish inflation, bumping it up 0.2% in May. Beyoncé played two shows in Sweden on May 10 and 11.
"Beyoncé is responsible for the extra upside surprise this month," Grahn told the Financial Times. "It's quite astonishing for a single event. We haven't seen this before."
Sweden's headline inflation was 9.7% in May, down from 10.5% the month prior, Swedish government data shows. But while consumer prices in Sweden are moderating, prices for a large swath of goods and services, including hotels and restaurants, rose. Hotel and restaurant prices increased 3.3% from April to May, according to Statistics Sweden, an organization that publishes the country's inflation reports.
The Renaissance World Tour is on track to clinch the title of highest-grossing tour of all time. The series of stadium performances, named after Beyoncé's new album, is the megastar's first time performing in seven years, Billboard reported. As a result, fans are clamoring to get their hands on tickets.
During the first round of ticket sales for Beyoncé's concerts, fan demand exceeded the number of available tickets by more than 800%, Ticketmaster said in a statement in February.
While Beyoncé's modest "blip" effect on an entire country's inflation is far from usual, it isn't the first time a singer's fanbase has pushed up consumer prices.
The cost of a one-night stay at some hotels in Nashville nearly quadrupled during Taylor Swift's Eras Tour performances in the city in May, the Tennessean reported. Her fans also smashed records for hotel bookings in Chicago.
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