Rail commuters in England and Wales will see their fares increase by 3.6% from next year, adding weight to already-squeezed incomes from higher prices.
The rise, the biggest annual increase in five years, is set by the government and linked to July’s Retail Prices Index measure of inflation announced by the Office for National Statistics on Tuesday. The higher fares will take effect from January.
Economists had expected RPI to increase by 3.5% in July, while rail fares rose by 2.3% at the start of 2017 based on last year’s figures.
The change applies to about 40% of regulated rail fares, including season tickets on many commuter journeys, some off-peak return tickets on long distance journeys and anytime tickets around major cities.
More details to follow soon …