Are Taylor Swift and Beyoncé to Blame?

In Europe’s battle against inflation, a new villain has emerged: Beyoncé and Taylor Swift! Last month, as Beyoncé kicked off her world tour, fans flocked to Sweden from around the world for the shows, pushing up prices for hotel rooms. 

This could explain some of the reason Sweden’s inflation rate was higher than expected in May according to Michael Grahn, an economist at Danske Bank. Why after a series of interest rate hikes and a surge in the price of essential goods like food and energy — are we seeing Taylor Swift’s latest tour break records and Beyoncé stand accused of boosting the entire nation of Sweden’s inflation rate during her two-night stay in Stockholm this May? 

Let's look into it...

Sweden is on its way to becoming the first cashless society on Earth

From Quartz –

“There’s a conspicuous lack of cash on Sweden’s streets.

So ubiquitous are digital payments in the country that attempting a paper money transaction at a Swedish bank might provoke a suspicious stare or a report to the police. That’s according to Niklas Arvidsson, a professor at Stockholm’s KTH Royal Institute of Technology.”

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