Rail fares to drop

RAIL PASSENGERS are set to benefit from lower rail fares from January 2010 due to a drop of the Retail Price Index (RPI) to -1.4% in July this year.  On the majority of rail journeys fares are regulated by the Government.  Increases to most of those fares are capped at RPI+1% with the changes implemented in January, based on the previous July's RPI figure.  The Government has also taken away the flexibility for operators to raise individual regulated fares by up to 5% above the national fare change, protecting passengers from unduly steep rises in regulated fares next year.  Transport Secretary Lord Adonis said: “This is good news.  For the first time in a generation passengers across the country will see their fares fall.  Drops in fares should encourage more people to travel by train, which is good for the economy and the environment.” www.dft.gov.uk

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