the german share price index dax graph is pictured at the stock exchange in frankfurt germany july 12 2022 reutersstaff july 13 reuters  european shares slipped on wednesday as investors awaited us inflation data which is expected to hit 40year highs cementing the case for a large interest rate hike by the federal reserve and possibly pushing the euro to parity with the dollar the paneuropean stoxx 600 index stoxx fell 05 by 0713 gmt after ending higher in a volatile session on tuesday banks sx7p healthcare sxdp and consumer stocks were among the biggest drags on the index the euro has tumbled recently as investors fear aggressive monetary policy tightening could cause a recession markets speculate that us inflation data for june due at 1230 gmt could be the catalyst that prompts another rally in the dollar bringing it at par with the single currency analysts worry that this could worsen euro zone inflation already at record highs finnish drug maker orion ornbvhe topped the stoxx 600 up 43 on raising its fullyear outlook after it signed a collaboration agreement with merck for developing a prostate cancer drug candidate read more reporting by susan mathew in bengaluru editing by rashmi aich