China's Producer Price Index (PPI), a main gauge of inflation at the wholesale level, rose 2.7 percent in November year-on-year, the National Bureau of Statistics (NBS) said Friday.

The reading eased significantly from October's 5-percent growth.

On a month-on-month basis, China's PPI fell 0.7 percent from October, the NBS said in a statement on its website.

Producer purchase prices grew 5.1 percent year-on-year in November and were down 0.7 percent from a month ago, said the NBS.

In the first eleven months of the year, the PPI climbed 6.4 percent year-on-year, while producer purchase prices rose 9.7 percent from a year earlier.

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