The Rail Delivery Group (RDG) has confirmed that train fares will rise by 2.7% on average next year.
Although the RDG has argued that this will be the third consecutive year in which companies have held the average change below the RPI rate of inflation from July which regulated fares are pegged to, the rise is noticeably higher than the CPI inflation measure from the same month.
July’s RPI inflation figure was 2.8%, and the train fares for 2020 were initially set to be held to that; however, the CPI inflation measure was 2.1%.
Wages are not keeping up with the rise in fares either; however, the RDG said that 98p from every pound from fares will be invested into running the railways, with this money covering running costs and allowing other public money to fund capital spending on the railway.
Ticket money is enabling “unprecedented investment to improve journeys,” according to the industry membership body.
Thanks to the long-term improvement plan in place, there will be an extra 1,000 carriages and 1,000 extra services next year, and companies will work with the future government to make fares easier for customers by reforming outdated regulations.
By 2025, it is hoped that more than 11,000 extra services will be added; upgrades are being undertaken in all parts of Great Britain, and Paul Plummer, Chief Executive of the Rail Delivery Group, defended the increase in fares.
“We understand that no one wants to pay more to travel, which is why train companies have for the third year in a row held the average fare increases below inflation, while still investing to improve journeys.
“Passengers will benefit from 1,000 extra, improved train carriages and over 1,000 extra weekly services in 2020 and the industry will continue to push for changes to fares regulations to enable a better range of affordable, mix and match fares and reduced overcrowding on some of the busiest routes.”
The new train fares will come into effect on 2 January 2020.