Retail sales volume in Bermuda increased by 4.7 per cent year-over-year in January, according to figures released today by the Ministry of Economy and Labour.

That figure was determined after adjusting for the retail sales rate of inflation, which was measured at 2.5 per cent in January.

In value terms, retail sales increased to an estimated $99.5 million, which represented a 7.1 per cent rise in sales value year-to-year.

Six of the seven sectors recorded year-over-year volume index increases in January.

The sales volume for food stores grew 1.9 per cent.

Motor vehicle stores’ sales volume increased 25.2 per cent.

Service stations’ sales volume grew 1.9 per cent.

The sales volume for building material stores increased 31.3 per cent.

The sales volume at apparel stores increased 7.9 per cent.

In the all other store types sector — comprising stores selling household items, furniture, appliances, electronics, pharmaceuticals and tourist-related goods — there was a 1.2 per cent increase in sales volume.

Meanwhile, liquor stores’ sales volume fell 4.9 per cent compared with the previous year.

Selected overseas declarations increased 6.6 per cent compared with January 2023.

Imports via courier increased $0.9 million to $12.1 million. This increase was attributed to the higher importations of headgear and parts thereof.

Imports by households via sea increased $0.2 million to $7.1 million.

Declarations at the airport by returning residents increased $0.3 million to $4.3 million.

Imports via the Bermuda Post Office increased $0.1 million to $0.6 million.

Excluding Sundays, there were 26 shopping days, one fewer than in January 2023.

• The public can review the January 2024 Retail Sales Index report at www.gov.bm/retail-sales-index-rsi