|Fares Could Rise Above Inflation Again Next Year|
London Assembly told commuters are facing price hikes
High inflation could mean Londoners are hit by a big rise in public transport fares next year, the London Assembly heard today.
Transport for London told the Assembly's Budget and Performance Committee that high inflation is affecting its costs and some of that may need to be passed onto passengers next year.
TfL is therefore likely to recommend to the Mayor that fares from January will need to rise by two percent on top of the rate of inflation, which would be seven percent based on current figures.
Fares already increased by an average of 12.7 percent on buses and 3.9 percent on the Tube in January this year.
John Biggs AM, Chair of the London Assembly Budget and Performance Committee, said: "Londoners have already been hit by a hike in fares this year, particularly bus passengers, who bore the brunt of the rises.
"We are looking at how the existing fare increases have already affected passengers in the capital and we will also assess whether further rises on the scale suggested today by Transport for London can really be justified."
June 18, 2010