EMERGING MARKETS-Latam FX rise as U.S. inflation data dents dollar

* Mexican peso hits two-month high * Russian rouble jump ~2% * Argentina's inflation expected to heat up again in March * GPA SA rises on potential IPO related to e-comm unit (Updates prices) By Susan Mathew April 13 (Reuters) - Most Latin American currencies rallied on Tuesday against a dollar weakened by U.S. inflation data signaling the U.S. Federal Reserve would stay easy, while Russia's rouble jumped after reports of a call between Washington and Moscow. Brazil's real firmed 0.5%, while Mexico's peso hit a two-month high. Higher copper prices bolstered top producer Chile's peso, which was up 0.7% after two straight days of losses. The rouble's recovery gained pace, up almost 2% in late trade, after reports that U.S. President Joe Biden had a phone conversation with Russian President Vladimir Putin, as the market kept a close watch on geopolitical tensions between Moscow and the West. The dollar fell after data showed U.S. consumer prices increased by the most in more than 8-1/2 ye