* Brazil's Hapvida jumps after higher Q1 profit * Argentina April CPI awaited * Both Latam stocks and FX indexes flat By Shashwat Chauhan May 14 (Reuters) - Most Latin American currencies treaded higher on Tuesday with Brazil's real amongst top gainers, while focus shifted to U.S. inflation data which could dictate market perception of the Federal Reserve's interest rate outlook. Brazil's real gained 0.3% against the dollar after minutes from the Brazil central bank's last policy meeting showed the members who voted for a larger interest rate cut last week supported the view that it was appropriate to adhere to the previous guidance for a 50-basis-point reduction. "In our assessment, despite the split vote, the minutes are distinctively hawkish," Alberto Ramos, managing director - head of Latam economics at Goldman Sachs said. Copper producer Chile's peso appreciated 0.6% against the dollar, tracking rising prices of the red metal. Mexico's peso slipped 0.3%, while Peru's sol also shed 0.4%. As of 10:48 a.m. ET (1448 GMT) MSCI's index for Latin American currencies was flat, while a gauge for stocks edged 0.05% lower. Regional heavyweight Brazil's main stock index gained 0.3% early on, boosted by advancing health care and information technology shares. Hapvida jumped over 8% after the Brazilian healthcare operator posted a first-quarter adjusted net profit of 506.8 million reais ($98.3 million), up from 33.1 million reais a year earlier. Natura &Co shed over 4% after the cosmetics maker reported a net loss of 934.9 million reais ($181.29 million) for the first quarter, larger than the 652 million-real loss it had posted a year earlier. Shares in Mexico dipped 0.4%, while those in Peru and Argentina gained 0.4% and 0.7%, respectively. In the lead up to a crucial U.S. inflation print on Wednesday which could dictate the Fed's rate trajectory, fresh data showed U.S. producer prices increased more than expected in April, indicating that inflation remained stubbornly high early in the second quarter. Also on the radar would be data out of Argentina which is expected to showed the country's monthly inflation rate likely dipped back into single digits for the first time in half a year in April, analysts polled by Reuters estimated, amid a gradual slowdown in price rises as the country's economy stalls. HIGHLIGHTS ** Brazil services sector grows more than expected in March ** Biden sharply hikes US tariffs on Chinese imports, including chips, cars Key Latin American stock indexes and currencies: Latest Daily % change MSCI Emerging 1081.77 0.28 Markets MSCI LatAm 2495.31 -0.05 Brazil Bovespa 128541.92 0.3 Mexico IPC 57518.13 -0.37 Chile IPSA 6683.46 -0.18 Argentina MerVal 1387544.7 0.77 9 Colombia COLCAP 1393.25 0.21 Currencies Latest Daily % change Brazil real 5.1337 0.34 Mexico peso 16.8512 -0.31 Chile peso 916.8 0.61 Colombia peso 3872.68 0.30 Peru sol 3.7257 -0.32 Argentina peso 885.0000 -0.06 (interbank) Argentina peso 1035 0.97 (parallel) (Reporting by Shashwat Chauhan in Bengaluru)