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aus+uk / uk.railway / Train tickets set to rise by almost 12pc next year?

SubjectAuthor
* Train tickets set to rise by almost 12pc next year?Recliner
`* Train tickets set to rise by almost 12pc next year?Bevan Price
 `* Train tickets set to rise by almost 12pc next year?ColinR
  `- Train tickets set to rise by almost 12pc next year?Recliner

1
Train tickets set to rise by almost 12pc next year?

<t51kfp$cpk$1@dont-email.me>

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From: recliner...@gmail.com (Recliner)
Newsgroups: uk.railway
Subject: Train tickets set to rise by almost 12pc next year?
Date: Thu, 5 May 2022 22:52:41 -0000 (UTC)
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 by: Recliner - Thu, 5 May 2022 22:52 UTC

Train tickets are set to rise by almost 12pc next year unless ministers
take action
Commuters face paying hundreds of pounds more for the their season tickets
next year as inflation continues to soar, economists have warned.

Fares could rise by nearly 12pc unless the Government severs the ties
between the Retail Price Index and annual fare increases.

Paul Dales from Capital Economics predicted annual growth on the index will
hit 11.8pc in July, which would be the highest since the 1980s.

July’s figure is typically used to calculate how much fares increase each
January, although the uprating has been delayed to March for the past two
years.

Ministers may trim the rate by 1 percentage point, which last happened in
2003, although the increase would still smash the previous record increases
of 6pc hit in 2009 and 2012.

An 11.8pc increase would add nearly £529 to the cost of an annual season
ticket from Brighton to London.

It threatens to pile yet more pressure on household budgets amid the
broader cost of living crisis, which is expected to intensify towards the
end of the year after the energy price cap rises again in October.

In its Monetary Policy Committee report, released on Thursday, the Bank of
England predicted soaring energy costs would drive annual Consumer Price
Index inflation to an average of 9.5pc in the third quarter of the year.

CPI typically runs about 1pc below RPI, an outmoded measure that
nevertheless continues to be widely employed, including during negotiations
on staff pay with rail unions.

Another consultancy, Oxford Economics, predicted RPI would hit 10.7pc in
July, with CPI at 8.2pc.

Economist Andrew Goodwin said there would be a “relatively wide spread”
between the two gauges due to strong house price growth and rising mortgage
interest payments.

The Department for Transport declined to comment.

<https://www.telegraph.co.uk/business/2022/05/05/rail-commuters-brace-punishing-fare-rises/>

Re: Train tickets set to rise by almost 12pc next year?

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From: bevanpri...@gmail.com (Bevan Price)
Newsgroups: uk.railway
Subject: Re: Train tickets set to rise by almost 12pc next year?
Date: Fri, 6 May 2022 16:49:02 +0100
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 by: Bevan Price - Fri, 6 May 2022 15:49 UTC

On 05/05/2022 23:52, Recliner wrote:
> Train tickets are set to rise by almost 12pc next year unless ministers
> take action
>
> Commuters face paying hundreds of pounds more for the their season tickets
> next year as inflation continues to soar, economists have warned.
>
> Fares could rise by nearly 12pc unless the Government severs the ties
> between the Retail Price Index and annual fare increases.
>
> Paul Dales from Capital Economics predicted annual growth on the index will
> hit 11.8pc in July, which would be the highest since the 1980s.
>
> July’s figure is typically used to calculate how much fares increase each
> January, although the uprating has been delayed to March for the past two
> years.
>
> Ministers may trim the rate by 1 percentage point, which last happened in
> 2003, although the increase would still smash the previous record increases
> of 6pc hit in 2009 and 2012.
>
> An 11.8pc increase would add nearly £529 to the cost of an annual season
> ticket from Brighton to London.
>
> It threatens to pile yet more pressure on household budgets amid the
> broader cost of living crisis, which is expected to intensify towards the
> end of the year after the energy price cap rises again in October.
>
> In its Monetary Policy Committee report, released on Thursday, the Bank of
> England predicted soaring energy costs would drive annual Consumer Price
> Index inflation to an average of 9.5pc in the third quarter of the year.
>
> CPI typically runs about 1pc below RPI, an outmoded measure that
> nevertheless continues to be widely employed, including during negotiations
> on staff pay with rail unions.
>
> Another consultancy, Oxford Economics, predicted RPI would hit 10.7pc in
> July, with CPI at 8.2pc.
>
> Economist Andrew Goodwin said there would be a “relatively wide spread”
> between the two gauges due to strong house price growth and rising mortgage
> interest payments.
>
> The Department for Transport declined to comment.
>
> <https://www.telegraph.co.uk/business/2022/05/05/rail-commuters-brace-punishing-fare-rises/>

I wonder what excuse Boris may find not to increase pensions, etc., by
(roughly) the same percentage ??

Re: Train tickets set to rise by almost 12pc next year?

<t53uoh$65g$1@dont-email.me>

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From: rai...@greystane.shetland.co.uk (ColinR)
Newsgroups: uk.railway
Subject: Re: Train tickets set to rise by almost 12pc next year?
Date: Fri, 6 May 2022 21:00:23 +0100
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 by: ColinR - Fri, 6 May 2022 20:00 UTC

On 06/05/2022 16:49, Bevan Price wrote:
> On 05/05/2022 23:52, Recliner wrote:
>> Train tickets are set to rise by almost 12pc next year unless ministers
>> take action
>> Commuters face paying hundreds of pounds more for the their season
>> tickets
>> next year as inflation continues to soar, economists have warned.
>>
>> Fares could rise by nearly 12pc unless the Government severs the ties
>> between the Retail Price Index and annual fare increases.
>>
>> Paul Dales from Capital Economics predicted annual growth on the index
>> will
>> hit 11.8pc in July, which would be the highest since the 1980s.
>>
>> July’s figure is typically used to calculate how much fares increase each
>> January, although the uprating has been delayed to March for the past two
>> years.
>>
>> Ministers may trim the rate by 1 percentage point, which last happened in
>> 2003, although the increase would still smash the previous record
>> increases
>> of 6pc hit in 2009 and 2012.
>>
>> An 11.8pc increase would add nearly £529 to the cost of an annual season
>> ticket from Brighton to London.
>>
>> It threatens to pile yet more pressure on household budgets amid the
>> broader cost of living crisis, which is expected to intensify towards the
>> end of the year after the energy price cap rises again in October.
>>
>> In its Monetary Policy Committee report, released on Thursday, the
>> Bank of
>> England predicted soaring energy costs would drive annual Consumer Price
>> Index inflation to an average of 9.5pc in the third quarter of the year.
>>
>> CPI typically runs about 1pc below RPI, an outmoded measure that
>> nevertheless continues to be widely employed, including during
>> negotiations
>> on staff pay with rail unions.
>>
>> Another consultancy, Oxford Economics, predicted RPI would hit 10.7pc in
>> July, with CPI at 8.2pc.
>>
>> Economist Andrew Goodwin said there would be a “relatively wide spread”
>> between the two gauges due to strong house price growth and rising
>> mortgage
>> interest payments.
>>
>> The Department for Transport declined to comment.
>>
>> <https://www.telegraph.co.uk/business/2022/05/05/rail-commuters-brace-punishing-fare-rises/>
>>
>
> I wonder what excuse Boris may find not to increase pensions, etc., by
> (roughly) the same percentage ??
>
>

Already done:
https://www.bbc.co.uk/news/business-53082530

--
Colin

Re: Train tickets set to rise by almost 12pc next year?

<t5402h$hmu$1@dont-email.me>

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From: recliner...@gmail.com (Recliner)
Newsgroups: uk.railway
Subject: Re: Train tickets set to rise by almost 12pc next year?
Date: Fri, 6 May 2022 20:22:41 -0000 (UTC)
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 by: Recliner - Fri, 6 May 2022 20:22 UTC

ColinR <rail@greystane.shetland.co.uk> wrote:
> On 06/05/2022 16:49, Bevan Price wrote:
>> On 05/05/2022 23:52, Recliner wrote:
>>> Train tickets are set to rise by almost 12pc next year unless ministers
>>> take action
>>> Commuters face paying hundreds of pounds more for the their season
>>> tickets
>>> next year as inflation continues to soar, economists have warned.
>>>
>>> Fares could rise by nearly 12pc unless the Government severs the ties
>>> between the Retail Price Index and annual fare increases.
>>>
>>> Paul Dales from Capital Economics predicted annual growth on the index
>>> will
>>> hit 11.8pc in July, which would be the highest since the 1980s.
>>>
>>> July’s figure is typically used to calculate how much fares increase each
>>> January, although the uprating has been delayed to March for the past two
>>> years.
>>>
>>> Ministers may trim the rate by 1 percentage point, which last happened in
>>> 2003, although the increase would still smash the previous record
>>> increases
>>> of 6pc hit in 2009 and 2012.
>>>
>>> An 11.8pc increase would add nearly £529 to the cost of an annual season
>>> ticket from Brighton to London.
>>>
>>> It threatens to pile yet more pressure on household budgets amid the
>>> broader cost of living crisis, which is expected to intensify towards the
>>> end of the year after the energy price cap rises again in October.
>>>
>>> In its Monetary Policy Committee report, released on Thursday, the
>>> Bank of
>>> England predicted soaring energy costs would drive annual Consumer Price
>>> Index inflation to an average of 9.5pc in the third quarter of the year.
>>>
>>> CPI typically runs about 1pc below RPI, an outmoded measure that
>>> nevertheless continues to be widely employed, including during
>>> negotiations
>>> on staff pay with rail unions.
>>>
>>> Another consultancy, Oxford Economics, predicted RPI would hit 10.7pc in
>>> July, with CPI at 8.2pc.
>>>
>>> Economist Andrew Goodwin said there would be a “relatively wide spread”
>>> between the two gauges due to strong house price growth and rising
>>> mortgage
>>> interest payments.
>>>
>>> The Department for Transport declined to comment.
>>>
>>> <https://www.telegraph.co.uk/business/2022/05/05/rail-commuters-brace-punishing-fare-rises/>
>>>
>>>
>>
>> I wonder what excuse Boris may find not to increase pensions, etc., by
>> (roughly) the same percentage ??
>>
>>
>
> Already done:
> https://www.bbc.co.uk/news/business-53082530
>

Not really: "Instead, the state pension will be determined by either the
inflation rate or 2.5%."

What has been cut for two years is the link to earnings, which will
probably rise at less than the high inflation rate over the next year. So,
pensions will be rising at the inflation rate, probably just as they would
have done even with the triple lock.

The reason to pause the triple lock was that earnings have been erratic
during and after Covid, first dropping in 2020, then sharply recovering in
2021/22. They didn't want the sharp recovery to bump up pensions more than
was affordable.

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