On 2nd January, rail fares will increase by 2.7%, based on the rate of inflation this year, which caps the amount train companies can raise the cost of tickets. This may result in some long-distance commuters seeing their annual tickets rise by £100 or more.
Train companies base their percentage increase on the Retail Prices Index inflation, and increase the tickets annually, keeping just below the rate of inflation. At the start of this year train prices increased by 3.1% resulting in a £100 rise for some season tickets. However, the Government’s preferred method of measuring inflation, Consumer Prices Index, has only estimated a 2.1% rise in inflation, compared to Retail Prices Index’s measure of 2.8% back in July of this year.
The Campaign for Better Transport argues train companies should be obligated to use this, much lower, statistic instead to base the price increase.
There have been major complaints concerning the rise in price, considering the price of British train tickets compared to other European countries and the quality of travel offered for such high prices. Transport Focus reported that only 47% were satisfied with the value of money for train tickets.