As a measure of the change in the price of goods and services purchased by consumers, which accounts for a majority of overall inflation, according to the National Bureau of Statistics, China’s Consumer Price Index for November (y/y) came in weaker than expected at 4.2% versus 5.5% last November; economists anticipated a decline to only 4.6%.

As a leading indicator of consumer inflation, measuring the change in the price of goods purchased and sold by producers, China’s Producer Price Index for November (y/y) also came in weaker than expected at 2.7% from 5.0% last November, reports the National Bureau of Statistics; the market expected a 3.3% reading.