All periods of inflation are different but I would buy inflation indexed bonds from a risk reward perspective.
You can also buy oil, gold and agri products but don’t short debt.
But to answer your question specifically I initially had two thoughts.
1 - It depends which index, for example a resource index like Australia and Canada v a manufacturing asset heavy index like Germany.
2 - The problem with all shorts is that you may make 50% on your short but have the opportunity to make 100%+ on the commodity bet.
From the options given I would be long commodities regardless of the index.