Climate change contributing to inflation: Norway fund boss ...Middle East

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Climate change contributing to inflation: Norway fund boss
OSLO: The head of Norway’s mammoth sovereign wealth fund said Wednesday it would be “quite difficult” to bring down global inflation due to persistent upward pressure brought on by climate change and global market trends.Central banks around the world have struggled to rein in inflation despite numerous interest rate hikes since the end of the Covid pandemic.“We think it could be quite difficult to bring down global inflation,“ said Nicolai Tangen, CEO of Norges Bank Investment Management, on Wednesday.Manufacturing costs have been rising amid a global push for “nearshoring”, where goods are produced closer to their consumers, Tangen said.In addition to that trend, “the new thing here is the

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