Swedish Inflation Tops Forecasts After Beyoncé Gig Fills Hotels
- Core inflation rate grew 8.2% in May, partly driven by hotels
- Beyoncé concerts in Stockholm may explain surprise: Danske
Beyoncé performs onstage at Friends Arena in Stockholm, on May 10.
Photographer: Kevin Mazur/Getty ImagesThis article is for subscribers only.
Swedish core inflation slowed less than expected in May as Beyoncé fans flooding Stockholm may have driven an increase in hotel prices.
A price measure that strips out energy costs and the effect of interest-rate changes rose 8.2% from a year earlier, according to data published by Statistics Sweden on Wednesday. That was higher than the median estimate of 7.8% in a Bloomberg survey as well as the 8.1% expected by the Riksbank.