LONDON (Reuters) – Regulated rail fares in England will rise by up to 5.9% in March, less than half the 12.3% inflation rate in July the increase would have been based on historically, Britain’s transport department said on Thursday.
The government said the annual increase was in line with July’s average earnings growth rather than the traditional retail price index due to “unprecedented levels of inflation”.
Transport minister Mark Harper said the government was capping the rise “to help reduce the impact on passengers.”
“It has been a difficult year and the impact of inflation is being felt across the UK economy,” he said in a statement.
Regulated fares, which include commuter season tickets and standard tickets, will rise on March 5, the government said.
(Reporting by Farouq Suleiman, Editing by Paul Sandle)
