How much is the fault of the famous singer Taylor Swift about high inflation? Only partially, according to Christine Lagarde.

European Central Bank President Christine Lagarde said Tuesday that the star’s “Eras Tour”it is not the only reason inflation persists at high levels across the eurozone.

As Ms Lagarde said, services inflation remained “persistent” last month in the 20-nation bloc and coincided with the European leg of Taylor Swift’s tour, cannot be attributed to a single artist.

“It’s not just Taylor Swift, you know,” Lagarde told CNBC. “Other artists have come” Ms Lagarde said when asked if Swift’s tour boosted services inflation, something the ECB is watching very closely.

The economic impact of the singer’s sold-out tour has been hotly debated amid concerns that banks have yet to win their battle against inflation.

Last year, after spending on hotels, flights and restaurants close to Swift’s performances rose, terms such as “Swiftflation” and “Swiftonomics”.

However, an increase in consumer spending was also seen in other tours, such as Bruce Springsteen, Pink and Sting.

What the inflation data showed

Based on Eurostat announcements, inflation in the Eurozone stood at 2.5% in June, from 2.6% in May. Services recorded the highest rate (4.1%, flat from May), followed by food, alcohol and tobacco (2.5%, up from 2.6% in May), non-energy industrial goods (0.7%, stable compared to May) and energy (0.2%, compared to 0.3% in May).