Rail fares in the UK are set to rise by an average of 1.1 per cent. The change will come into effect on 2nd January 2016.
The Rail Delivery Group (RDG), which represents train operators and Network Rail said, it was the smallest annual rise for six years.
Regulated fares, which include season tickets are capped at no more that July’s RPI inflation rate at 1%. Unregulated fares, such as off-peak leisure tickets, can be increased by as much as train companies wish.
Paul Plummer, chief executive of the RDG said “We know that nobody likes to pay more to travel by train, especially to get to work, and at 1.1% this is the smallest average increase in fares for six years.’
Plummer said the railway’s day-to-day operating costs were almost covered by the fares as passenger numbers have doubled in the last 20 years.
On average 97p in every pound from fares is spent on trains, staff and other running costs. “This allows government to focus its funding on building a bigger, better network when the railway is becoming increasingly important at driving economic growth, underpinning jobs, and connecting friends and families.”
Rail Delivery Group also released some data on use of Britain’s railways.
There were 1.65 billion journeys last year, which comes to more than 4.5 million a day.
Revenue for the government has surged from £400 million to £2.27 billion thanks to growing passenger numbers.