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Rail prices set to rise by by 8 percent

Train bosses are set to announce increases in ticket prices in the wake of the latest inflation figures set to be announced later this morning.

The BBC reports that the RPI inflation figure is expected to be around 5 percent, which it set to cause the average season ticket to rise by around 8 percent in 2012.

This comes as a move by the government to reduce the price of running the rail network, but will hit commuters purchasing season tickets hard. Increases are usually RPI plus 1 percent.

Some rail figures are also set to go up by more than the 8 percent average, because train companies can add another 5 percent on top of any given fare, as long as it is balanced by reductions elsewhere.

A spokesman for the Association of Train Operation Companies said: “ increasing the money raised from fares will mean that taxpayers contribute less to the running of the railways, whilst ensuring that vital investment can continue.“

Since 2006/07, rail users contributions to the railways has risen from £5 billion to £6.6 billion in 2010/11.

This was posted in Bdaily's Members' News section by Ruth Mitchell .