JPMorgan warned Friday that a "super" El Niño combined with higher energy prices from the Middle East conflict could slow the decline in global inflation next year

A gradual easing of oil prices can be expected if pre-war equilibrium is restored. But, the question is whether or not producers will lower their final prices.

A potential "super" El Niño, combined with elevated energy prices, could push global inflation higher next year, with emerging markets facing the biggest impact, according to a…