European shares fell on Monday after weaker-than-expected growth data from China hit luxury stocks, while a relentless surge in commodity prices fuelled worries about inflation spiralling out of control. The pan-European STOXX 600 index fell 0.5 percent after an upbeat start to the quarterly earnings season drove its strongest weekly performance since March on Friday. Asian stocks came under pressure after data showed China’s economy hit its slowest pace of growth in a year in the third quarter, hurt by power shortages, supply chain bottlenecks, and major wobbles in the property market. China-exposed luxury stocks including LVMH, Kering, and Hermes fell about 3 percent each, also hurt by Chinese President Xi Jinping’s call for the expansion of a consumption tax. “(Sentiment) is being driven by some of the data out of China,” said Michael Bell, global market strategist at JP Morgan Asset Management. “It’s ongoing concerns around the slowdown in …