reveal.

In January, spending abroad rose 7.1 percent over last year, with returning residents declaring goods worth $2.25 million.

But, after adjusting for a 2.6 percent inflation rate, Bermuda's traders still experienced a 1.5 percent sales increase in January -- helped by the seasonal slashing of prices. There was an estimated turnover of $31.2 million in the retail sector.

Receipts for liquor stores rose 8.5 percent over last year, while motor vehicle dealers and petrol stations enjoyed a 7.8 percent boost in their revenues. In the general retail sector, stores reaped a 5.9 percent rise in sales.