Mexico stocks rally on U.S. inflation data

MEXICO CITY, May 14 (Reuters) - Mexican stocks rallied on Wednesday on a modest rise in U.S. consumer prices that was seen taking pressure off the Federal Reserve to raise borrowing costs in the United States, Mexico's top trading partner.

The benchmark IPC stock index .MXX closed 1.45 percent higher at 31,336.57 points, led by gains at telecommunications bellwether America Movil (AMXL.MX: Quote, Profile, Research). (Reporting by Michael O'Boyle)