[Washington Examiner] CNN reported on Wednesday that we may have new culprits for inflation: Beyonce and Taylor Swift."Taylor Swift and Beyonce are impacting inflation and the GDP with their respective tours," CNN tweeted with a segment discussing the macroeconomic impact of the tours of the two celebrities.
CNN isn’t alone. CNBC made a similar claim in a report on "tourflation" in July, which explored the surge in prices localities experience when Beyonce and Swift come to town.
"It’s not just that the tickets become more expensive," Klaus Baader, global chief economist at Societe Generale, told CNBC. "It’s also that your beer or cider or your Coca-Cola or your hot dog at the venue has also gotten a lot more expensive."