Accountants Deloitte said Premier League spending was £130m in January, up £10m year on year.
English top-flight clubs have now spent £760m this season, breaking 2008-09's record by £90m.
Deadline day moves
Crystal Palace signed Tom Ince (pictured), Joe Ledley, Scott Dann, Jason Puncheon and Wayne Hennessey
Fulham spent £11m on striker Konstantinos Mitroglou, also signing Lewis Holtby from Spurs, Johnny Heitinga from Everton and youngsters Larnell Cole and Ryan Tunnicliffe
Arsenal brought in Sweden midfielder Kim Kallstrom on loan
Chelsea made the most expensive signing of the day, spending £12m on defender Kurt Zouma
West Ham released Razvan Rat and replaced him with Pablo Armero
Sunderland kept captain Lee Cattermole and signed midfielder Liam Bridcutt from Brighton
Clubs paid out £35m on 96 deals in England and Scotland on deadline day, a similar amount to last year. It is the fourth highest of the 13 mid-season transfer windows to date. The record is 2011's total of £225m.
Dan Jones, from Deloitte, said clubs were supported by record revenues with a new television deal bringing in an extra £600m across the top flight this season.
But he added: "Spending has again been driven by a minority of clubs, with just two accounting for more than 60% of the league's total spending.
"Around half of Premier League clubs chose not to spend this month."
The only other permanent deal by a club in the Premier League top 10 was Everton's purchase of 17-year-old Czech Republic goalkeeper Jindrich Stanek from Sparta Prague.
On deadline day itself, Fulham also signed
Tottenham midfielder Lewis Holtby on loan,
Everton defender John Heitinga on a free transfer and Manchester United youngsters Ryan Tunnicliffe and Larnell Cole for undisclosed fees.
Palace bought in Blackpool winger Tom Ince on loan, Wolves keeper Wayne Hennessey for £3m and they paid undisclosed fees for Celtic midfielder Joe Ledley, Southampton midfielder Jason Puncheon and Blackburn defender Scott Dann.
Yevhen Konoplyank would have been the biggest deadline day move had he joined Liverpool
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