* Consumer prices in Brazil rise less than expected in May

* Colombian assets fall as oil prices decline

* Mexico's annual inflation rate hits 7.65% in May

By Shreyashi Sanyal

June 9 (Reuters) - Latin American stocks and currencies fell along with their broader emerging market peers on Thursday after Shanghai imposed new lockdown measures, while Brazil's real slipped after data showed consumer prices rose less than expected in May.

Stocks in China .CSI300 , .SSEC , one of Latin America's biggest trading partners, ended lower, hurting the broader emerging markets equities index .MSCIEF .

The MSCI's index for Latin American stocks .MILA00000PUS fell 0.9%, with Colombia stocks .COLCAP in the lead, as oil prices dropped on China demand worries. The Colombian peso COP= fell 0.4% against the dollar.

Brazil's real BRL= BRBY weakened 0.3% in choppy trading after consumer prices as measured by the benchmark IPCA index BRCPI=ECI rose 0.47% in May, below market forecasts.

"The fall in Brazilian inflation in May suggests that Copom will continue to slow the pace of tightening with a 50 basis point Selic rate hike to 13.25%, next week," said Nikhil Sanghani, emerging markets economist at Capital Economics.

"But with inflation set to stay in double-digit territory in the coming months, we doubt that this would mark the end of the tightening cycle."

Brazilian stocks .BVSP fell 0.2%, dragged down by declines in miner Vale SA VALE3.SA .

Eletrobras ELET3.SA rose 2.6% after demand for shares in the power holding company in its privatization neared 70 billion reais ($14.3 billion) and the offering is twice oversubscribed, two sources with knowledge of the matter said.

In Mexico, data showed consumer prices rose 7.65% in the year through May, slightly above expectations even as the central bank drives a monetary tightening cycle to tame high inflation.

The peso MXN= fell 0.1% against the greenback. The Mexican central bank, known as Banxico, said last week it was willing to act more forcefully on monetary policy if needed to bring inflation back down to target, and could raise rates by 75 basis points at its next meeting later this month.

Separately, a poll by Reuters showed Argentina's benchmark interest rate is likely to be increased another 200 basis points next week as the central bank seeks to counter soaring and painful inflation that could top 70% this year.

Key Latin American stock indexes and currencies at 1444 GMT:

Stock indexes

Latest Daily %

change MSCI Emerging Markets .MSCIEF

1067.68

-0.56 MSCI LatAm .MILA00000PUS

2336.51

-0.74 Brazil Bovespa

.BVSP

108022.87

-0.32 Mexico IPC

.MXX

49845.12

0.05 Chile IPSA

.SPIPSA

5254.82

-0.43 Argentina MerVal

.MERV

89584.01 -0.403 Colombia COLCAP

.COLCAP

1544.24

-1.06

Currencies

Latest Daily %

change Brazil real

BRBY

4.8915

-0.17 Mexico peso

MXN=D2

19.6093

-0.25 Chile peso

CLP=CL

827.2

-0.73 Colombia peso COP=

3819.1

-0.62 Peru sol

PEN=PE

3.7568

-0.06 Argentina peso (interbank) ARS=RASL

121.6200

-0.13

Argentina peso (parallel) ARSB=

204

1.96

Reporting by Shreyashi Sanyal in Bengaluru; Editing by David Clarke