UK: Rail fares set for average rise of 3.5% in new year
Rail fares across the country are set for an average rise of 3.5% in the new year following the publication of the government’s latest inflation figures.
The Retail Price Index fell from 2.6% to 2.5% in July. Current government rules say that regulated rail fares – season tickets and standard off-peak tickets, can only rise by an average of inflation plus 1% – meaning they can average 3.5%.
Individual ticket prices can increase by a further 2% – but this would have to be offset by lower than inflation increases on other routes.
However there is already speculation that the Chancellor may say that fares can only rise by inflation, or even that ticket prices may be frozen, during a speech either at the Conservative Party Conference or during the government’s autumn statement during December.