Sales at U.S. wholesalers rose at the fastest pace in nearly four years in January, the U.S. Commerce Department reported today.

Sales rose 2.7% in January, the biggest rise since March 2004, while inventories rose 0.8%. The inventory-to-sales ratio fell back to a record low 1.07.

The sales and inventory figures are seasonally adjusted, but not adjusted for inflation, which rose 1% at the wholesale level in January. However, even in inflation-adjusted terms, real sales strengthened.

Sales in December were revised slightly higher to a 0.5% reduction from 0.7% previously. December’s inventories were unrevised at a 1.1% increase.

Sales of durable goods rose 2.4% in January, while sales of nondurables rose 3%.

The inventory-to-sales ratio for nondurable goods matched a record low of 0.76.

Wholesale auto sales increased 3.2%, while auto inventories fell 0.7%.

Wholesale petroleum sales rose 3.5%, while inventories fell 3.4%.