Consumer credit races ahead as UK households struggle to cope

People borrowed an extra 1.8bn in June, up from 900m in May, Bank of England figures show

UK consumer credit growth in June accelerated at the fastest rate in three years, as households struggle to cope with the rising cost of living.

People borrowed an additional 1.8bn in consumer credit last month, up from a 900m increase in May, according to the latest Bank of England data.