Inflation in euro area accelerated in October after economy of the region demonstrated the lowest growth pace since 2014, Bloomberg reports.

Consumer prices gained 2,2% compared with last year, while measure excluding volatile components gained to 1,1%.

As a result, inflation is higher than target level of European Central Bank.

Experts think that there are no reasons for enthusiasm, as the main increase was caused by higher energy costs. Growth in two out of three largest economies of the region, Italy and Germany, seems to come to a standstill, while risks, including Italy’s budget and Brexit, keep rising.

Inflation acceleration along with economic growth slowdown are observed at the moment, when ECB is going to reduce economic stimulus by cutting bonds purchasing. Experts assume that central bank can revise growth and inflation estimates, but there are no enough reasons to cancel decision in regards to finishing assets purchasing program.