EMERGING MARKETS-Stronger US dollar halts Latin American currencies' recovery

* Mexico's inflation accelerates, rate cut unlikely in May * Argentina's central bank bullish on inflation outlook * Alpek shares jump after results * Latin American stocks off 0.2%, currencies slip 0.1% (Updated at 3:30pm ET/1930 GMT) By Bansari Mayur Kamdar April 24 (Reuters) - Most currencies in Latin America eased on Wednesday as the dollar regained some ground, with the Mexican peso sliding even as data showing an acceleration in inflation reinforced bets that the central bank will hold interest rates steady. The peso slid 0.7% against a stronger dollar, Brazil's real lost 0.4% and Colombia's peso dropped 1%. Mexico's consumer prices unexpectedly rose in the first half of April, supporting expectations the country's central bank will hold its benchmark interest rate steady at its next policy meeting. "In our assessment, the recent FX and rate developments (repricing of the U.S. FOMC fed funds path and strong U.S. dollar) and today's inflation print do not provide the central bank with enough comfort to cut the policy rate at the May meeting," strategists at Goldman Sachs said in a note. Last week, Bank of Mexico Deputy Governor Jonathan Heath also said interest rates are likely to remain unchanged for longer than expected by markets. The U.S. dollar index edged higher after slipping in the previous session, renewing pressure on emerging market currencies which have been roiled in recent weeks as investors bet that the U.S. Federal Reserve will be in little hurry to reduce borrowing costs. The broader Latin American currencies index dipped 0.1%, snapping three sessions of gains. MSCI's basket of regional stocks fell 0.2%. Alfa gained 1.7% after the conglomerate posted a first-quarter net profit of 1.02 billion pesos ($62 million), swinging to a profit from the loss of 252 million pesos in the year-earlier period. Shares of Alfa's petrochemical unit Alpek leapt nearly 6% after it reported results in line with analysts' forecasts. Alfa said it is still trying to improve its financial situation in order to proceed with the spin-off of Alpek. Argentina's Merval index shed 3%, extending losses for a second straight day, with investors focused on massive demonstrations to reject President Javier Milei's budget cuts to public universities. Argentina's central bank is bullish the country's monthly inflation rate will come down faster than analysts expect, but sees more work to be done to replenish foreign currency reserves. Exchange rate repricing with a stronger dollar will hurt countries that started their rate cutting cycle earlier, said Gabriel Galipolo, the director of Brazil's central bank. In Colombia, the central bank next week is expected to cut its key interest rate by 50 basis points, a Reuters poll showed. HIGHLIGHTS ** Indonesia's central bank delivers surprise rate hike to anchor rupiah ** Most stock markets in the Gulf ended lower as Israel intensified strikes across Gaza ** Hong Kong spot crypto ETFs to start trading next week Key Latin American stock indexes and currencies at 1930 GMT: Latest Daily % change MSCI Emerging Markets 1033.75 1.41 MSCI LatAm 2434.93 -0.17 Brazil Bovespa 124833.85 -0.25 Mexico IPC 56670.65 0.07 Chile IPSA 6371.38 -1.52 Argentina MerVal 1204944.90 -3.276 Colombia COLCAP 1345.39 -0.19 Currencies Latest Daily % change Brazil real 5.1460 -0.35 Mexico peso 17.0540 -0.67 Chile peso 949.4 0.65 Colombia peso 3938.28 -1.06 Peru sol 3.7167 -0.58 Argentina peso 873.0000 0.00 (interbank) Argentina peso 1015 1.48 (parallel) (Reporting by Bansari Mayur Kamdar and Lisa Mattackal in Bengaluru; Editing by Andrea Ricci and Paul Simao)