(Updated at 1408 GMT)
* Brazil's Magalu up on partnership with China's Aliexpress
* Peru c.bank raises 2024 economic growth forecast to 3.1%
* Mexico's consumer prices rise in early June
* MSCI indexes hit two-week highs
* Latam stocks up 1.8%, 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 0.8% to a two-week high at 18 against
the dollar, while the yield on 10-year treasury bonds ticked 10
basis points 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, the incumbent Morena party's recent election
win sparked concerns around possible constitutional reform, with
the peso down nearly 6% 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 could leave its
benchmark interest rate on hold at 11% later in the week.
    "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 two-week high against a
weakening dollar, with Brazil's real up 0.8%.
    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.
    Peru's sol climbed 0.7% in thin trading. The Peruvian
central bank slightly raised its annual economic growth forecast
to 3.1%, from 3.0% on expectations of greater primary sector
support.
    Later in the week, investors will also scrutinise Colombia's
central bank decision, with economists expecting a 50 basis
point cut in its benchmark interest rate to 11.25%. The peso
 rose nearly 1% over a one-week high in low volumes.
    The currency of the world's largest copper producer, Chile
 also ticked up 0.4%.
    Among stock markets, MSCI's index tracking regional bourses
 rose 1.8% to a two-week high, with Brazil's
Bovespa adding 1.1%.
    Among single stocks, Magazine Luiza jumped more
than 11% 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.
    Mexico's benchmark index was flat as investors await
president-elect Claudia Sheinbaum's additional cabinet
appointees, while Colombia's Colcap rose 0.5%.
    
    Key Latin American stock indexes and currencies:
    
 Latin American market                       
 prices from Reuters                  
                                      
   Stock indexes            Latest    Daily %
                                      change
 MSCI Emerging Markets       1085.58    -0.12
                                      
 MSCI LatAm                  2223.40     1.82
                                      
 Brazil Bovespa            122749.32     1.16
                                      
 Mexico IPC                 52807.80     0.04
                                      
 Chile IPSA                  6493.86     0.08
                                      
 Argentina MerVal               0.00        0
                                      
 Colombia COLCAP             1372.42     0.52
                                      
                                             
       Currencies           Latest    Daily %
                                      change
 Brazil real                  5.3806     1.12
                                      
 Mexico peso                 18.0249     0.42
                                      
 Chile peso                    937.5     0.29
                                      
 Colombia peso                4109.5     0.93
 Peru sol                     3.7907     0.01
                                      
 Argentina peso             908.5000    -0.44
 (interbank)                          
                                      
 Argentina peso                 1280     1.95
 (parallel)                           
                                      
 
 (Reporting by Johann M Cherian in Bengaluru; Editing by
Alexander Smith)