By Gwladys Fouche
OSLO, April 18 (Reuters) - Global inflation is becoming
more entrenched and the risk is that it could be harder to
reduce it, the head of Norway's $1.4 trillion sovereign wealth
fund told Reuters on Tuesday.
The Norwegian fund is the world's largest single stock
market investor, owning 1.5% of all globally listed shares with
stakes in some 9,200 companies.
"We still think that there is a risk that it could be more
difficult to get down because it is becoming more entrenched,"
Nicolai Tangen said on the sidelines of a parliamentary hearing.
"We see core inflation numbers are pretty high. We are
seeing no let-up in the food sector, for instance, and we are
seeing some higher wage demands, across Europe."
China's economy grew 4.5% year-on-year for the first
quarter, eclipsing the expectations of most economists, data
released on Tuesday showed.
"Chinese growth numbers were higher than expected. We have
said for a very long time if the Chinese growth is really strong
it will also help underpin the inflation," Tangen said.
(Reporting by Gwladys Fouche, editing by Terje Solsvik)
Twitter handle: @gfouche))
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