Brief - The Hustle

Who runs the world? We’re increasingly convinced it’s Beyoncé

Written by Ben Berkley | Jun 20, 2023 10:56:18 PM

Beyoncé fans argue that their favorite artist is the center of the universe and, well, it’s getting harder to disagree every day.

Case in point: Government agency Sweden Statistics released numbers this week showing Swedish inflation exceeding expectations.

You may think Beyoncé isn’t at the heart of this Swedish economic data; you would be very wrong.

Wait, Beyoncé really sent a whole-ass nation’s inflation numbers off target?

That’s what Danske Bank economists told the Financial Times, yes. Let’s explain:

  • Last month, the singer kicked off her hotly anticipated world tour in Stockholm, playing two sold-out shows in front of 46k attendees each night.
  • With ticket prices far more reasonable in Sweden compared to later tour dates — tickets that were running $2k+ in New York and Los Angeles were going for under $200 in Stockholm, per Vulture — hordes of international fans swooped in.
  • Economists say the accompanying surge in hotel prices led to an estimated 0.2% rise in Sweden’s inflation rate.

The Riksbank, one of the final western central banks to fight inflation by raising interest rates, forecast a figure of 8.1% for May. Beyoncé’s, uh, halo effect helped the overall number land at 8.2%.

So, this means Beyoncé runs Sweden now?

Basically, yes — but technically, no. If only because there’s another Boss already.

Bruce Springsteen’s three-night run in Gothenburg later this month is worrying Swedish economic forecasters — Swedbank told FT the shows may similarly catapult the nation’s inflation numbers.