Retail sales are growing strongly in January despite a slight cooling in activity after the Black Friday and Christmas rushes, according to research by the CBI.

A survey of 127 major retailers by the group revealed sales up year-on-year at a slightly slower rate than the 12 months to December but still “healthy”, said the CBI.

Sales volumes were above average for the time of year, while certain product categories did particularly well such as clothing which had its best month since February 2013.

Grocers, furniture and carpet stores, jewellery and second-hand goods also did swift business this month, while online sales continued their relentless climb.

Rain Newton-Smith, CBI director of economics, said it was good news generally, although increased competition and price cuts were putting pressure on sales margins.

“After the sales bonanza of Black Friday cooled down, retailers saw solid footfall through the doors over the Christmas trading period, leading to further robust growth in sales in the New Year.

“However, under the spotlight of strong competition, some retailers are feeling the heat on their margins.

“Falling oil prices and low inflation mean consumers have a bit more money in their pockets. We expect to see this translate into strong sales growth in the months ahead.”