Below-inflation fare increase is promised

WITH inflation running at 11.8% in June, word from the Department for Transport is that regulated fares will not be increased in line with the July RPI figure.

The formula for rail fare increases is usually RPI + 1%, which would produce a fare rise of just under 13%. However, a rise of that magnitude would turn many people away from rail, just as passenger numbers have been recovering after the Covid-19 pandemic.

Earlier this year, rail fares increased by 4.8%, compared with a 9.0% increase in the RPI. The previous highest rise in recent years was 6.2% in 2011 and 5.9% in 2012.