A rapidly intensifying El Nino weather pattern combined with higher energy prices could add 0.3 percentage points to global inflation next year, hitting emerging markets particularly hard, JPMorgan economists said in a report on Friday.
Forecasts currently point to an 81% probability that the current El Nino episode develops into a "very strong" or "super" El Nino by the end of the year and a 97% chance that the conditions persist into next year.
