* Brazil's Magalu up on partnership with China's Aliexpress
* Mexico's consumer prices rise in early June
* MSCI indexes hit two-week highs
* Latam stocks up 1.4%, FX add 1%

By Johann M  Cherian
       June 24 (Reuters) - Most Latin American equities and
currencies climbed on Monday, with Mexico's peso among the top
gainers after data pointed to price pressures in the region's
second-largest economy, ahead of a central bank policy decision
later in the week.
    The peso rose nearly 0.9% to an over two-week high at
18 against the dollar, while the yield on 10-year treasury bonds
ticked higher after data showed consumer prices increased 0.2%
during the first half of June, compared with economists'
forecasts of a 0.1% increase. 
    The oil exporter's currency had been among the better
performers as the local central bank delayed further interest
rate cuts. However, concerns around the incumbent Morena party's
election win and possible constitutional reform has brought the
peso down over 5% year-to-date. 
    "The combination of a softening economic recovery and tight
financial conditions will likely cap inflation as (the year)
progresses, assuming the (peso) stabilises as we expect," said
Andres Abadia, chief Latam economist at Pantheon Macroeconomics.
    Monday's data reinforced expectations that Mexico could
leave its benchmark interest rate on hold at 11% later in the
    "Depreciation will continue to have a direct effect on
inflation and inflation expectations ... making Banxico's Board
members more cautious than they already were," Abadia added.
    An index tracking currencies in the resources-rich region
 climbed 1% to a near two-week high against a
weakening dollar, with Brazil's real up 0.9%.
    The market focus will be on U.S. Personal Consumption
Expenditure data for May, the Federal Reserve's preferred
inflation gauge that could influence the outlook for its
monetary policy and consequently policy easing cycles in most
emerging economies.
    The Colombian peso rose 1.4% to a week's high, ahead
of its central bank decision later this week. The currency of
the world's largest copper producer, Chile lost 0.5%. 
    Among stock markets, MSCI's index tracking regional bourses
 rose 1.4% to a two-week high, with Brazil's
Bovespa adding 1%.
    Magazine Luiza jumped more than 10% after the
retailer and Chinese e-commerce powerhouse Aliexpress entered
into an agreement for both firms to list and sell products on
each other's platforms.
    Meanwhile, the Argentine peso in the parallel market
fell to a record low, as per traders. Data showed the country's
unemployment rate stood at 7.7% in the first quarter of the
year, up from 6.9% a year ago. 
    Key Latin American stock indexes and currencies:
                                          Latest    Daily %
 MSCI Emerging Markets                     1084.76      -0.2
 MSCI LatAm                                2215.44      1.46
 Brazil Bovespa                          122547.02      0.99
 Mexico IPC                               52476.17     -0.59
 Chile IPSA                                6459.67     -0.45
 Argentina MerVal                       1536835.07    -2.514
 Colombia COLCAP                           1375.78      0.76
              Currencies                  Latest    Daily %
 Brazil real                                5.3919      0.90
 Mexico peso                               17.9430      0.87
 Chile peso                                  944.9     -0.50
 Colombia peso                             4090.69      1.40
 Peru sol                                   3.8015     -0.27
 Argentina peso (interbank)               908.5000     -0.44

 (Reporting by Johann M Cherian and Shristi Achar A in
Bengaluru; Editing by Alexander Smith and Alistair Bell)