China's key inflation gauge slowed further in November, data showed on Wednesday, adding to concerns of cooling activity in the world's second-largest economy.
The consumer price index rose 1.4 percent from the year-ago period - the lowest reading since November, 2009 - below a Reuters forecast for a 1.6 percent increase and slower than October's 1.6 percent rise.
Read MoreWhy OPEC's pain is China's gain
Month-on-month, prices fell 0.2 percent, below expectations for a flat reading and compared with a flat reading in October.
"The numbers are along the lines that everybody expected - a trajectory of a slowdown," Peter Alexander, managing director at Z-Ben Advisors, told CNBC.
"A few years ago everyone was talking about China having to rebalance its economy and this is the process that it's going through. You will go to slower growth, but, hopefully, higher quality growth," he said. "So what you're seeing right now is not disturbing."
Capital Economics was also not overly concerned by the data.
"A fall in inflation to a five-year low last month may add to deflation fears but we think such concerns are overplayed. Easing inflation is being driven by falls in global commodity prices which should, on balance, benefit most firms and households," Capital Economics wrote in a note.
"Looking forward, we expect price pressures to moderate further going into next year," it said.