Public transport fares in London are, on average, being held at the inflation rate for 2014 but some Tube season ticketholders will have to fork out for rises of more than one per cent above inflation in January.
While the average rise in January for bus, Tube and tram rides in the capital will be 3.1 per cent in the new year, a Tube season ticket covering six Underground zones will be rising 4.3 per cent to £2,320.
This rise also applies to a seven-day Travelcard ticket for six zones which goes up from £55.60 to £58 in January.
Seven-day Travelcard and annual tickets on journeys covering Underground zones 1-4 rise 4.1 per cent in the new year, while the rise for zones 1-5 is 4.2 per cent.
The 3.1 per cent overall increase is equal to the July 2013 RPI inflation rate which determines mainline rail fares.
But unlike the mainline fares, which will be going up by an average of RPI plus one per cent (making it a 4.1 per cent overall average rise), London Mayor Boris Johnson has, on average, frozen the London fares in real terms.
But because Travelcard season tickets cover both mainline and Transport for London (TfL) services, the weekly, monthly and annual Travelcard tickets are going up by an average of 4.1 per cent.
On the buses, the pay-as-you-go fare on Oyster and contactless payment card increases 5p to £1.45, while the single cash fare stays the same.
Mr Johnson said: “I have always said I was determined to bear down on fares, while ensuring that we can still invest properly in a transport system that is critical to our city’s success.
“This package, which has been made possible by the continuing delivery of efficiencies across TfL, ensures that fares remain affordable and that we have the level of funding we need to continue to improve the network and deliver even better, more frequent services for everyone.
“I know that families and working Londoners who have helped drive the economic recovery still face real pressure over the cost of living and so I’ve decided to keep fares in line with RPI and therefore freeze them in real terms for next year.”
Manuel Cortes, general secretary of the TSSA rail union, said: “We are delighted that millions of commuters will benefit from the fact that Boris and the Tories are now running scared from Labour’s attack on the cost-of-living crisis facing hard-working families.
“We welcome the news that fares will not be rising again above inflation in January but we want to see an end to annual inflation rises altogether. We have the highest fares in Europe and it is high time they were frozen.”
Conservative London Assembly Member Roger Evans said: “A real-terms fares freeze in January is very welcome news; lower fares not only benefit passengers but the growth of the city overall.
“However by further addressing waste and improving efficiency across the organisation, TfL could continue to freeze fares at inflation in future years. TfL needs to urgently reform its gold-plated pensions, accelerate the introduction of driverless train technology, scrap free travel passes for friends and lodgers of TfL staff and introduce Tube sponsorship.”
Caroline Pidgeon, leader of the Liberal Democrat London Assembly Group, said: “At long last the mayor has finally done the right thing this year and ensured that fares rise on average by no more than the rate of inflation.”