Inflation fuels rail ticket hike for Cumbria commuters
Last updated at 14:53, Tuesday, 19 August 2014
Cumbria commuters will face a 3.5 per cent increase to regulated rail fares next year after official inflation figures used to calculate the rise were published.
The Retail Prices Index (RPI) measure of inflation for July was 2.5 per cent, down from 2.6 per cent in June, the Office for National Statistics (ONS) said.
Regulated fares can rise by RPI plus 1 per cent. Today’s figure will mean the hike for 2015 will be lower than this year’s 4.1 per cent, but still well above wages, which recently fell for the first time since 2009.
Meanwhile, the Consumer Price Index (CPI) measure of inflation fell more sharply than expected to 1.6 per cent from 1.9 per cent, as a late start for clothing sales spilled over into July.
It means inflation has been below the Bank of England’s 2 per cent target for seven months in a row, the first time this has happened since 2005.
The steep fall is likely to ease any pressure on the Bank to hike interest rates amid speculation about the timing of the first increase since they were slashed to 0.5 per cent five years ago.
First published at 09:51, Tuesday, 19 August 2014
Published by http://www.nwemail.co.uk
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sounds about right.the rich getting richer and the poor getting poorer.i use the train every sunday.ther are NEVER any seats,the are dangerously over full and have to travel with a 19 month old hyper active child.cumbria is the pits!!!!
If this government seriously wants to have a replacement for trident built it's going to have to put its money where it's mouth is in this area. The whole area is in need of regeneration and the transport links need absolutely enormous investment otherwise you won't get the necessary skills to replace the trident boats to come here.
Jobs in engineering have been on the BAE boards now for over 4 years with hardly a decent taker. The ones that are coming don't fit the bill.
Come on government, get investing in the area and let's ensure we have a deterrent. You know it's needed just look at the state of the world.
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