If you think Beyoncé is great, think again. She has driven inflation to a new high in Sweden. The fiend. The core rate grew there 8.2% in May. And Nordic economists believe that much of it was down to demand for hotels pushing up prices when Beyoncé opened her Renaissance world tour over two nights in Stockholm at the start of May. It’s not clear whether that was driven by all the, ahem, single ladies. Or just others who were crazy in love with the icon. But it does put a new wrinkle on the reasons behind the volatility of advanced economies.
Does this present a new solution for chancellor Jeremy Hunt? He is always hammering on about the stubbornness of UK inflation rates. So put the blockers on Harry Styles, Jeremy. Stop The Boss selling out stadia. Prevent Pink from rollicking around. Call last orders at whichever pub Jack Grealish is heading to. There you go. Problem solved.
To paraphrase Spinal Tap, I’m joking, of course, Jeremy. YOU CAN’T PUT THE BLOCKERS ON HARRY STYLES! For the love of god, man.
I discovered how Beyoncé had been pulling the strings of advanced economies because it was on a news feed, from Bloomberg’s economic news.
It is both the sort of thing you expect to read and the sort of thing you don’t expect to read on Bloomberg economic news. I was hooked immediately.
Reading it put me in a minority. According to a recent report from Reuters, only 43% of people in the UK are actively interested in the news. Around the world, according to this report, more than a third of people say they try to avoid the news. Which presents an issue for those who are in the business of reporting. It’s also a problem when there needs to be a challenge to fake news and false narratives that can catch fire around the world in an instant. Fake news can flow because the very platforms where it lives are those in which people feel more comfortable, the very platforms traditional older news providers are still having some issues navigating successfully. They stand on shifting sands. Still getting your news from Facebook? Move over, boomer.