* TSX up 0.5%

* Lightspeed Commerce up on JPM upgrade

* Dundee Precious Metals slides on Osino Resources acquisition

Dec 18 (Reuters) - Canada's main stock index gained on Monday with energy and material shares leading the charge on rising commodity prices, in a positive start to the week filled with global economic reports, including domestic consumer prices data.

At 9:44 a.m. ET (1444 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 102.05 points, or 0.5%, at 20,631.2. Wall Street, too, had an upbeat start to the day.

Energy led gains, rising 2.0% on oil prices surging more than 1% as attacks by the Houthis on ships in the Red Sea raised concerns of oil supply disruptions.

The materials sector, which houses Canada's major mining firms, gained 0.8% with steel producers Algoma Steel Group and Stelco Holdings leading gains.

Investors will focus on Canada's consumer prices data due on Tuesday, with headline inflation expected to come in at 2.9% year-on-year in November against last month's reading of 3.1%.

Canada's October Gross Domestic Product (GDP) numbers, producer prices and retail sales are scheduled for the week and will be on the market's radar.

In the United States, December consumer confidence, a final estimate of third-quarter GDP and November Personal Consumption Expenditure index (PCE) are due throughout the week.

The benchmark Canadian index logged a near 1% gain last week, as sentiment got a lift after the U.S. central bank signaled that it could consider cutting borrowing costs next year.

"The case for a soft landing has been boosted thanks to lower inflation and a moderating Federal Reserve, which triggered a broadening of the stock market rally," said Richard Saperstein, chief investment officer at New York-based investment firm Treasury Partners.

Among individual stocks, Lightspeed Commerce gained 2.8% after J.P.Morgan upgraded the software firm's rating to "neutral" from "underweight".

Dundee Precious Metals dropped 9.1% after the company announced its acquisition of Osino Resources.

(Reporting by Shashwat Chauhan in Bengaluru; Editing by Tasim Zahid and Shweta Agarwal)