EMERGING MARKETS-Brazil's real leads Latam FX higher; Mexican inflation soars - NewsBreak

* Mexican consumer prices rise 6.24% in the year through October * Brazil's real hits three week high, stocks jump * Bolsonaro set to join the center-right Liberal Party By Shashank Nayar Nov 9 (Reuters) - Most Latin American currencies gained on Tuesday, with Brazil's real rallying 1% against a steady dollar, while the Mexican peso firmed after surging inflation raised bets for another interest rate hike later this week. The Mexican peso edged up 0.3% after consumer prices rose 6.24% in the year through October, more than double the central bank's target, that will likely lead to a fourth consecutive interest rate hike later this week. Mexico's central bank, known locally as Banxico, will likely raise its benchmark interest rate by 25 basis points to 5% on Thursday, according to a Reuters poll. Some also forecasted a larger hike. "Rate hike expectations for Banxico ahead of the Fed meeting last week had risen considerably with the swap market pricing in rate hikes of up to 100bp until