UPDATE 1-European shares retreat from 3-week highs

* Investors await U.S. inflation data
(Adds comment, updates prices)

JEFFREY LIPTON in BARBADOS – http://feeds.reuters.com/~r/reuters/companyNews/~3/Aek3coheRHQ/update-1-european-shares-retreat-from-3-week-highs-idUSL4N23J1VP