Copy article

Inflation and rail fares

ended 16. August 2023

On the back of this morning's inflation data, a national newspaper journalist is writing a follow-up story about next year's English rail fares rising below 9% in 2024, as RPI in July was 9%, the Office for National Statistics said on Wednesday. Background article >> here <<. He wants to know:

  • Is today's inflation data good news for commuters, or could rail fare increases still have a big impact on consumer finances?
  • How much could rail fares go up by?

Any thoughts, whizz them across ASAP.

2 responses from the Newspage community

Copy all

Copy

Editor
Justin Moy
Managing Director at EHF Mortgages
As many businesses have made moves to bring staff back to the office, the cost of travel has been creeping up for some time through natural usage, so to have a near-inflation increase on top, it only adds to the increasing outgoings of consumers, as most will also be paying more for fuel, utilities and their mortgage too. Pegging increases below inflation will be helpful, but the additional travel imposed by employers will actually mean a 'higher-than-inflation' increase in travel costs, especially compared to the cost of Zoom for the past three years.
Copy

Editor
Samuel Mather-Holgate
Independent Financial Adviser at Mather and Murray Financial
It's good news that prices won't increase as much as inflation, but that's like giving someone a lollypop after you've poked them in the eye. The rail commuter in the UK has to deal with horrible delays, awful onboard conditions and regular cancellations, all at a cost that is significantly higher than our European neighbours. The model of having a private company in charge of national infrastructure hasn't worked for too long and it's time to consider alternatives.