Britain’s rail fares will rise by 3.8% in March 2022, the Department for Transport said.
It marks the largest rise in fares for nine years as the rail industry struggles to recover from a plunge in revenue during the pandemic.
This is below the current retail price index (RPI) measure of inflation, which is 7.1 per cent, the department said in a statement.
However, it will be the steepest increase since January 2013, according to figures from industry body the Rail Delivery Group (RDG).
Rail minister Chris Heaton-Harris said: “Capping rail fares in line with inflation while tying it to the July RPI strikes a fair balance, ensuring we can continue to invest record amounts into a more modern, reliable railway, ease the burden on taxpayers and protect passengers from the highest RPI in years.
“Delaying the changes until March 2022 offers people the chance to save money by renewing their fares at last year’s price.
“That includes the 100,000 people who are already making savings with cheaper and more convenient flexible season tickets.”
Increases are normally implemented on the first working day of every year, but have been delayed until March since 2020 due to the pandemic.
Andy Bagnall, director general of industry body the Rail Delivery Group, said: “The Government’s decision to hold fares down in line with July’s inflation is welcome compared to last year’s above-inflation increase and the rate of inflation right now.
“It is important that fares are set at a level that will encourage more people to travel by train in the future, helping to support a clean and fair recovery from the pandemic.
“We know the railway must not take more than its fair share from the taxpayer, which is why the rail industry is working to create a financially sustainable and more passenger-focused service that will both keep costs down long-term and attract people back to the train.”