Rail passengers could see their ticket prices rise by 4.8 per cent next year – the largest rise in a decade – despite calls for fares to be frozen.
The cap on the annual increase in most regulated rail fares is normally linked to the previous July’s Retail Prices Index (RPI) measure of inflation. On Wednesday the Office for National Statistics confirmed the figure would be 8.8 per cent for July 2021.
Regulated train fares – for season tickets, peak journeys around big cities and off-peak returns – are set by the government. Fares are usually increased every January but the coronavirus pandemic meant this year’s increase was delayed until March 1.
Traditionally fares have risen in line with RPI. No announcement has yet been made on what will happen to fares next year, but ticket prices in England and Wales rose by an average of around 2.6. per cent, representing RPI for July 2020 plus one percentage point.
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