The retail sales index for the month of January has dipped marginally by 2.5 percent after adjusting for inflation.

The estimated gross turnover in the retail sector was $38.6 million, compared to $38.5 million in the same period last year, according to information released by the statistics department yesterday.

Overseas purchases decreased a huge 27.2 percent compared to last year, with declared items going from $2.72 million last January to just $1.98 million this January. Only in March last year was there a period of lower spending.

Food sales continued to be robust, up 5.5 percent compared to the same time last year.

According to the Ministry of Finance liquor sales were once again held constant due to insufficient data from reporting outlets.

The sales of cars, motorbikes mopeds and gas fell marginally by 1.8 percent because of a fall in vehicle sales. The sale of petrol, however, was up marginally.

The general stores category sales fell by 4 percent but results varied from shop to shop.

Retail sales index declines Appliance stores recorded strong sales while stores that cater to locals as well as those that are tourist orientated experienced most growth.

Sales of pharmaceuticals were flat while hardware stores suffered sharp declines, citing a slowing down in the construction industry as the reason.

Sales at department stores were also down.

The total value of retail sales before adjusting for inflation remained virtually unchanged, up 0.2 percent. Inflation in January stood at 2.8 percent. There were 25 shopping days in January.

In the last 12 months the highest estimated gross turnover in the local retail sector was, apart from December when $71.3 million was registered, was July when $55.3 million was spent. The lowest was last February when $39 million was reported.

The highest level of overseas purchases was in November last year when $5.06 million was declared. The lowest was in March when $1.86 was declared to customs officers.