Retail sales volume fell by 4.3 percent for January 2009, continuing a nine-month stretch of declines, according to the latest figures released by Government today.

The Department of Statistics Retail sales Index revealed that the volume of sales, after adjusting for the annual rate of inflation of 5.3 percent for January, has been dropping steadily since May 2008, with the last gain, of 4.3 percent, recorded the previous month.

But the total value of sales was actually up 0.8 percent for January compared to the same period last year, following three straight months of decreases, with consumers spending an estimated $84.5 million on retail products during the first month of the year.

See tomorrow’s Royal Gazette business section for the full story.