Rail travellers face “spectacularly painful” train fare hikes next year due to the surge in inflation, according to one financial commentator.
Details of where the latest round of price rises landed were revealed today by the Office of Rail and Road, which excludes the Great British Rail Sale between 19 April and 2 May 2022.
"Long Distance sector fares had the largest increase of 6.1%, with the London and South East and Regional sectors increasing by 4.1% and 4.0% respectively.
"London and South East sector retains the largest revenue share with 45.2%, down from 54.0% last year."
Off-peak fares rose by 3.8% from March 2022, while the overall average increase in unregulated Standard Class fares was 4.8%.
Standard long-distance fares increased by 5.5%, though this is likely to pale compared to next year (March 2023) warned Sarah Coles at wealth platform Hargraves Lansdown.
"Regulated fares are linked to RPI in July. The most recent figures we have are for May when RPI was 11.7%, and it may well rise from here. Next year, rail price rises could be spectacularly painful," Coles added.
The analysts noted that bargain-hunting train travellers had already been hit especially hard by the latest rise in fares.
Smart travellers, who have traditionally been able to find the best deals on advance tickets, were hit by an inflation-busting 8.8% hike in the last round of rises as CPI inflation rose to 7%.
Long-distance trips are limited in terms of advance tickets and the savings make them popular with thrifty travellers.
Bargain deals have become far less generous in the year to March 2023, according to Coles.