Rail fares in the UK are set to rise by 4.9%, which is below the 9% retail price index announced in July – in which rail fares are usually based on.
Rail fares will be lower than last year’s rise and will not increase until 3rd March 2024.
Additionally, rail fares in England will rise significantly less than Scotland, where they are set to rise by 8.7% from April 2024.
Transport Secretary, Mark Harper, said: Having met our target of halving inflation across the economy, this is a significant intervention by the government to cap the increase in rail fares below last year’s rise.
Changed working patterns after the pandemic means that our railways are still losing money and require significant subsidies, so this rise strikes a balance to keep our railways running, while not overburdening passengers.
We remain committed to supporting the rail sector reform outdated working practices to help put it on a sustainable financial footing.
