FX.co ★ UK Consumer Credit Rises More than Expected

Net consumer credit borrowing by individuals in the UK rose to £1.81 billion in January 2026, up from an upwardly revised £1.65 billion in December. This exceeded market expectations of £1.7 billion and was broadly in line with the six‑month trend. Net borrowing on credit cards increased to £0.9 billion in January from £0.8 billion in December. The annual growth rate of total consumer credit held steady at 8.3% in January. Over the same period, the annual growth rate of credit card borrowing edged down to 12.3% from 12.4%, while the annual growth rate for other forms of consumer credit ticked up to 6.5% from 6.4%.