The consumer price index (CPI) in December rose 0.53% against last month, representing a year-on-year increase of 18.12%.

The figures were announced by Minister of Planning and Investment Bui Quang Vinh at the Dec. 22 conference to launch the National Assembly’s resolution on socio-economic development tasks and State budget 2012 in Hanoi .

Minister Vinh said in the early months of the year, CPI saw high increases before reducing gradually from the second quarter. Over the past four months, CPI rose at a level under 1 percent, resulting from the Government’s concrete measures to control inflation and ensure market stability.

According to the Ministry of Planning and Investment, the country’s 2011 export value is estimated to reach USD96 billion, a year-on-year increase of 33% and the import value, USD106 billion.

GDP growth is estimated at 5.9% compared with 6.8% in 2010. Of the GDP growth, agroforestry and fisheries is up about 2.3%, industry and construction, 6.8% and services, 6.4%.

In 2012, the government will give priority to controlling inflation, stabilising the macro-economy, maintaining suitable growth combining with renewing the growth model and restructuring the economy. 

Major targets for 2012 include a GDP growth of 6-6.5% a CPI increase under 10% an export value increase of 13%. State budget deficit under 4.8% of GDP, forest coverage of 41% and job generation for 4.6 million people.