STOXX 600 falls 0.4, UK39;s FTSE 100 up 0.1
ECB to project 2024 inflation staying above 3, source says
Zara owner Inditex posts betterthanexpected 40 profit jump
Aviva to sell Singlife joint venture stake for 1 bln
BP boss Looney quits over personal relationships with colleagues

Sept 13 Reuters European shares fell on Wednesday, as investors braced for a crucial U.S. inflation report due later in the day for cues on the Federal Reserve39;s monetary policy path amid a hawkish shift in expectations from the European Central Bank39;s rate decision this week.

The panEuropean STOXX 600 slid 0.4 by 0747 GMT, with ratesensitive tech stocks down 0.5.

U.S. consumer prices likely increased by the most in 14 months in August, but an expected moderate rise in underlying inflation could encourage the Federal Reserve to keep interest rates on hold at its meeting next week.

If an upside surprise does land, it will refocus markets on the shortterm path for policy rates with the odds of a Q4 hike likely to rise significantly, said Nicholas Rees, FX market analyst at Monex Europe.

Meanwhile, the ECB expects inflation in the euro zone to remain above 3 next year, a source said, adding to worries about a tenth consecutive interest rate hike on Thursday.

Current market pricing reflects nearly a 75 chance the central bank will raise rates by 25 basis points, up from around 40 on Monday.

Zara owner Inditex slid 2.3 despite beating expectations with a 40 jump in halfyear profit….