In March, consumer prices rose in Europe at an annual rate of 2.4%, slightly below expectations, giving investors hope that the ECB will initiate rate cuts in June.However, concerns about possible shocks persist. As a result, European stock markets, while not in a hurry to go lower, appear to have temporarily topped out.What could hinder an early reassessment of monetary policy?Let's start with overly optimistic data. The analysis of annual growth rates may not provide meaningful data due to the pass-through effect of the initial inflationary spike.In reality, the figures still exceed the norm. The average monthly price growth rate from January to March for 2010-2019 was 0.12% in 2017-2019 a
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