FX.co ★ UK Consumer Credit Rises More than Expected

Net borrowing of consumer credit by individuals in the UK edged up to £1.807 billion in June 2026 from £1.7 billion in May, exceeding market expectations of £1.7 billion. This outcome was broadly in line with the previous six-month average of £1.8 billion. Within the total, net borrowing on credit cards rose to £0.9 billion in June, from £0.6 billion in May. By contrast, net borrowing through other forms of consumer credit, including car dealership finance and personal loans, eased to £0.9 billion in June, from £1.1 billion in May. The annual growth rate of total consumer credit ticked up to 9.1% in June, the highest since July 2018, from 9.0% in May. Over the same period, the annual growth rate of credit card borrowing increased to 12.5% from 12.2%, while the rate for other forms of consumer credit was unchanged at 7.6%.