(Updated at 1444 GMT)

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Brazil inflation speeds up ahead of central bank rate

decision

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Peru's sol hits two-week low as copper prices slide

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Markets monitor election developments in oil-rich

Venezuela

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Latam stocks down 0.9%, FX off 0.3%

By Johann M Cherian

July 25 (Reuters) - Most currencies of resources-rich

Latin American economies were subdued on Thursday, hovering near

three-week lows as commodity prices declined, while investors

also digested an inflation report out of Brazil.

MSCI's gauge for regional currencies slipped

0.3% against the dollar, after notching its steepest one-day

drop in a week on Wednesday.

Brazil's real inched up 0.1% after data showed

consumer prices in the region's biggest economy rose more than

expected, driven by higher transportation and housing costs,

firming bets that the local central bank would stay put on

borrowing costs later in the month.

"The recent BRL sell-off... will keep headline inflation and

inflation expectations stickier in the near term than initially

expected," said Andres Abadia, chief Latam economist at Pantheon

Macroeconomics.

"We expect the COPOM to resume interest rate cuts in

September, as domestic and external noise subsides."

The real is the top underperformer among major economies in

the region, down nearly 14% year-to-date following a selloff

towards the end of the second quarter on concerns around fiscal

instability in the country.

Copper producers Peru's sol weakened 0.8% to a

two-week low and Chile's peso was subdued as prices of

the red metal dipped below $9,000 per metric ton for the first

time since April on funds selling.

Mexico's peso see-sawed near the flat mark. The

currency hit a three-week low hit in the previous session after

electric vehicle maker Tesla's CEO Elon Musk cautioned

against investing in the country if Donald Trump wins a second

U.S. presidency and imposes heavy tariffs on vehicles produced

in Mexico.

Concerns around judicial reforms supported by Mexican

President-elect Claudia Sheinbaum and potential negative impact

on trade, immigration and security between the U.S. and Mexico

have weighed on the peso recently.

Oil producer Colombia's peso edged up 0.1% in thin

trading. Oil prices fell on low demand signals from top consumer

China.

On the equities front, MSCI's index tracking regional

bourses fell 0.9% to hit over a three-week low,

with Brazil's Bovespa slipping 0.3%, weighed down by the

energy sector.

Mexico's main index dipped 0.2%, while Argentina's

MerVal shed over 2%.

Attention will also be on upcoming presidential elections in

Venezuela on Sunday.

Key Latin American stock indexes and currencies:

Latin American market

prices from Reuters

Stock indexes Latest Daily %

change

MSCI Emerging Markets 1074.78 -0.71

MSCI LatAm 2184.33 -0.84

Brazil Bovespa 126036.34 -0.31

Mexico IPC 53164.76 -0.01

Chile IPSA 6455.20 -0.9

Argentina MerVal 1559779.32 -1.412

Colombia COLCAP 1352.62 -0.13

Currencies Latest Daily %

change

Brazil real 5.6502 0.10

Mexico peso 18.3601 -0.03

Chile peso 948.5 -0.17

Colombia peso 4039.97 0.17

Peru sol 3.7676 -1.07

Argentina peso 928.0000 0.05

(interbank)

Argentina peso 1420 2.11

(parallel)