Train passengers and commuters in England may face a significant 5.8% increase in fares next year, dealing a blow to their wallets. This potential hike follows a one-percentage-point rise above the Retail Price Index (RPI) inflation measure in July 2024, indicating a significant jump in rail travel costs if the same formula is applied to ticket prices next year.
Earlier this year, train fares in England rose by 4.6% in March, affecting regulated rail fares including season tickets, anytime day tickets, off-peak tickets, and super off-peak tickets. Unregulated fares, such as advance tickets, anytime tickets, off-peak day tickets, and first-class fares, are determined by individual train companies.
The Office for National Statistics reported a 4.8% increase in RPI in July, reflecting the rising cost of living. While the Government has not yet confirmed the exact increase for train fares in England next year, the Department for Transport (DfT) is expected to provide an update on regulated fare changes later this year. In contrast, Scotland, Wales, and Northern Ireland have authority over setting their own fare increases for regulated routes.
Railfuture, a pressure group, expressed concern over potential fare hikes, emphasizing the decline in train punctuality across Britain. Recent data from the Office of Rail and Road revealed that only 66.7% of trains in Britain arrived within a minute of their scheduled stops in the year leading up to July 19, marking the poorest performance in over five years.
The Transport Secretary’s priority is to restore reliability to the railways, with plans for public ownership and the implementation of Great British Railways (GBR) to enhance service quality and stimulate growth. While decisions on next year’s fare adjustments are pending, the government aims to strike a balance between affordability for passengers and taxpayers.
Moreover, many railcards saw a price increase of £5, or 17%, this year, with most now priced at £35 annually. Commuters can explore various strategies to reduce the cost of their journeys, such as booking in advance to access discounted fares, looking out for ticket releases 12 weeks ahead, and considering split-ticketing to save on expenses.
For frequent travelers, investing in a rail card offering discounts of 30% to 50% on fares or opting for season tickets or flexi tickets could result in substantial savings, depending on travel frequency. By employing these cost-saving measures, passengers can mitigate the impact of potential fare hikes and manage their commuting expenses effectively.