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December 7, 2014

UK rail fares to rise by 2.2% from January 2015

Rail fares in the UK are set to increase from January 2015, according to a confirmation by the government in the annual Autumn Statement.

By Samseer M

Rail fares in the UK are set to increase from January 2015, according to a confirmation by the government in the annual Autumn Statement.

BBC News reported that the Rail Delivery Group has said that the average rail fares will rise from 2 January 2015 by 2.2%, the lowest rise in five years. Increased air fares will also affect season tickets.

The current increase in the fare is said to be up by almost 1% when compared with the current rate of consumer price inflation that stood at 1.3% in October, as recorded by the Office for National Statistics (ONS).

"The industry is continuing to work together to get more for every pound we invest to enable government to make fares decisions which work best for passengers."

With this increase, commuters will be asked to pay more than £5,000 for an annual season ticket from January onwards.

In September, the UK Government said that the regulated fares will be frozen at 2.5%, same as the July’s measure of retail price inflation (RPI).

Rail Delivery Group director general Michael Roberts was quoted by BBC as saying: "For every pound spent on fares, 97p goes on track, train, staff and other costs, while 3p goes in profits earned by train companies for running services on Europe’s fastest-growing railway.

"The industry is continuing to work together to get more for every pound we invest to enable government to make fares decisions which work best for passengers."

Meanwhile, The Guardian has reported that passenger groups have criticised this announcement saying that the government has depended on a ‘discredited’ measure of inflation, which resulted in this hike.

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