China’s inflation, as measured by the Consumer Price Index (CPI), fell 0.5% YoY in November from a 0.2% decline in October. The market consensus was for a decrease of 0.2%. 

On a monthly basis, Chinese CPI inflation dropped 0.5% MoM in November versus a 0.1% decline seen in October and a fall of 0.1% estimated.

China’s Producer Price Index (PPI) dropped 3.0% YoY in November, as against a 2.6% decline in October. The data came in weaker than the market expectations for a 2.8% decline in the reported period.

Market reaction

At the time of writing, AUD/USD has shrugged off the downbeat Chinese data releases, holding lower ground near 0.6578, unchanged on the day.