FX.co ★ UK Consumer Credit Rises the Most on Record

Net consumer credit borrowing by individuals in the UK rose to a record £2.5 billion in August 2026, up from an upwardly revised £2.1 billion in July and significantly above market expectations of £1.9 billion. This was the highest monthly figure since data collection began in April 1993 and surpassed the previous six‑month average of £1.9 billion.

Within this total, net borrowing on credit cards reached £1.2 billion in August, compared with £0.9 billion in July. Net borrowing through other forms of consumer credit—such as car finance arranged through dealerships and personal loans—rose to £1.3 billion, from £1.2 billion in the previous month.

The annual growth rate of total consumer credit edged up to 9.6% in August, from 9.3% in July. Over the same period, the annual growth rate of credit card borrowing increased to 13.3%, from 12.6% in July, while the annual growth rate for other forms of consumer credit ticked up to 7.9%, from 7.7% in July.