M4 lending on the same measure rose by 1.1%, its biggest monthly rise since July 2007.
It was the eighth consecutive monthly rise to record levels.
It was the largest monthly rise for the index in a year.
Average fares were up 2.6 percent, the first monthly rise this year.
The gain was the biggest monthly rise since March 1990.
The number of people looking for work increased by 66,900, to 844,000, the biggest monthly rise and the highest total on record.
The increases for each day of the month, when added together, will be enough to offset the monthly rise in prices.
The monthly rise represented a jump of 43 percent over the same period one year earlier.
That was the biggest monthly rise since 1.5 percent last January.
The July increase was the 26th consecutive monthly rise in borrowing.