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The Markets
by Proactive
Proactive UK has moved.
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The Markets
by Proactive
Proactive UK has moved.
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Transport

Rail fare hikes to be below inflation for second year, says government

Regulated train fares in England will rise below the rate of inflation next year, the government has confirmed.

In what it said was a move to help with the cost of living for commuters, any rises will also be delayed until March 2024.

Prices normally go up in January based on the RPI index of inflation plus 1% in the previous July.

Today, the Office of National Statistics (ONS) announced RPI this July (2023) was 9%.

It will be the second year in a row the government has intervened to stop travellers being hit with swingeing price rises. Last year, regulated fares went up by 5.9% though the RPI in July 2022 was 12.3%.

A Department for Transport (DfT) spokesman said the government would "continue to protect passengers from cost of living pressures".

Train passengers have faced a wave of industrial action over the past year in a prolonged and ongoing dispute with unions over pay.

Operators have also been heavily criticised for cancellations, lack of drivers, and poor management generally.

Anthony Smith, chief executive of passenger lobby group Transport Focus, told the BBC: "Nobody likes their fare going up, but after a year where many journeys have been blighted by disruption due to industrial action and patchy performance, passengers will be relieved to hear that fares will be capped below the Retail Prices Index and any increases will be delayed until March next year."

Regulated fares cover about 45% of fares and encompass season tickets, off-peak return tickets and anytime tickets in major cities.

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