Rail Fares Set to Jump

Rail fares are expected to rise by 3.5% in January, affecting millions of commuters. Although the exact figure will be announced tomorrow when official inflation statistics for July are published, economists are predicting that the Retail Prices Index (RPI) measure of inflation will increase by 3.5%, which is used to set rail fare increases. This year saw the biggest jump in train ticket prices for five years, when they rose by 3.6% back in January.

Predictions of fare rises have caused outrage amongst commuters on social media, who pointed out the chaos of train cancellations, delays and timetable changes that have endured over the course of the summer. Consumer magazine Which? has also found that rail firms are the second least-trusted industry in the UK. The study revealed that just 23% of train users trust the service.

Fares that will be affected will include “anytime” and off-peak, in addition to season tickets in England and Wales.

Campaigners have called for the Government to freeze rail fares and start using the Consumer Prices Index (CPI) to set train ticket price increases. In comparison to the RPI, the CPI (a different measure of inflation) excludes mortgage repayments and therefore tends to be lower.

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