Rail firms are to raise fares 4.1%
COMMUTERS face rail fare hikes of 4.1% next year despite official figures showing a dip in inflation in July.
Train passengers will be hit by a sharp rise in regulated fares – such as season tickets – from January, even though retail price index (RPI) inflation slowed to 3.1% in July from 3.3% in June.
Fashion retailers’ summer sales helped offset higher prices at the fuel pumps to nudge consumer price index (CPI) inflation down to 2.8% in July from 2.9% a month earlier, said the Office for National Statistics.
Price rises are expected to continue easing gradually in coming months as CPI inflation dipped from June’s 14-month high.
Economists said inflation is now looking weaker than the Bank of England’s forecast, and has undershot previous central bank worries of a 3.5% summer peak in inflation.
Transport unions dubbed the rail fares rise a “kick in the teeth” for travellers and passenger groups said they could price people off trains.