Two concerts performed by Beyonce in Stockholm last month may have caused Swedish inflation to rise, a senior economist has suggested.

The American superstar kicked off her Renaissance World Tour in Sweden, playing two sold out gigs in the Swedish capital on 10 and 11 May.

And it appears the demand for hotel rooms and restaurant bookings was so intense that it pushed up the official inflation statistics.

Michael Grahn, Danske Bank’s chief economist for Sweden, tweeted: “Beyonce’s start of her world tour in Sweden seems to have coloured May inflation.”

The exact amount is “uncertain”, he added, but said the concerts “probably” added about 0.2% to the overall rise of 9.7%.

It amounts to two thirds of the 0.3% added by hotels and restaurants.

Mr Grahn told the Financial Times it was an “astonishing” development and not something Sweden had experienced before.

Some fans booked hotel rooms up to 40 miles outside Stockholm, the economist said.

He added on Twitter: “We expect this upside surprise to be reversed in June as prices on hotels and tickets reverse back to normal.”

Be the first to get Breaking News

Install the Sky News app for free

Read more world news:
Families of concert crush victims feel ‘greed’ played part in ‘stampede’
Highway to ‘Hel’ journey banned after religious groups object to ‘Satanic’ 666 bus route

Visit Stockholm has attributed high levels of tourism and almost full hotel occupancy to the “Beyonce effect”.

In an email to The Washington Post last month, it said visitors from the United States, Germany and Britain accounted for the largest number of bookings in the city.

Earnings from the tour could exceed $2bn (£1.6bn), according to Forbes magazine, although it admits that figure is based on the “most optimistic assumptions”.

Beyonce went from Stockholm to Brussels last month, then headed for the UK, where she played Cardiff, Edinburgh and Sunderland, before five dates at the Tottenham Hotspur Stadium in London.

Related posts:

Lloyd Webber urges theatreland to ‘stop wringing hands’ and fund diversity drive ‘I panic every time I see Boris’ – Savoretti’s anguish as music ‘pushed aside’ by COVID rules Jadon & Marcus & Bukayo: Jason Sudeikis offers his support to England stars at Ted Lasso premiere Kevin Spacey demands ‘absolutely false’ sex abuse case is dropped Jennifer Lopez and Ben Affleck engaged 18 years after they cancelled wedding Ed Sheeran helped pay for some of Tom Parker’s brain cancer treatment From Spice Girls to supermodels: All the celebrities name-dropped in Prince Harry’s memoir Harry says ‘dangerous lie’ told about his book – and claims Taliban remarks were taken out of context Bacharach’s songs were instantly memorable and addictively hummable but his work was far from ‘easy’ Harry’s ghostwriter reveals ‘row’ with prince over Diana comment anecdote Goodfellas star Ray Liotta’s cause of death revealed a year after he died Prince Harry to resume evidence in hacking case after blaming tabloids for ‘inciting hatred’