London’s bus, tram, Tube and rail fares look set to increase by an “eye-watering” 5.8% next year, after yesterday’s latest inflation figures.
Going up: tram and bus fares could have to increase for the first time since 2023, by government edict
The Office for National Statistics announced yesterday that the UK Retail Price Index – or RPI – hit 4.8% in July. And London’s transport fares are fixed for an increase of that rate, +1%, next year.
But a transport watchdog for the capital warned: “Government should think hard about whether it goes ahead with its plans to raise fares.”
TfL fares increased by 4.6% in March 2025, although bus and tram fares were frozen.
Subject to confirmation from Transport for London (which may not come until early in 2026), a journey on a Croydon tram or a London bus could rise to £1.85. That’s a 10p increase on the £1.75 bus or tram fare, which has been frozen since 2023.
A single peak hours Tube trip between Zones 1-2 could increase by 20p from £3.50 to £3.70. Off-peak journeys could go from £2.80 to £3.00.
Fare rises are tied in to an agreement from government which assumed between now and 2030 “that overall TfL fares will rise by the value of RPI+1 for each year of this settlement”, when TfL was granted £2.2billion for infrastructure investment
National rail fares in England are predicted to increase by 5.8% in 2026, following the ONS RPI inflation rate formula, and London Mayor Sir Sadiq Khan tends to follow fare hikes implemented by the government on railways.
Michael Roberts, the chief exec of London TravelWatch, the regional transport watchdog, said: “Londoners are already feeling the pinch of the cost of living crisis and some of the most expensive public transport in Europe. They will be dismayed at the idea of an eye-watering 5.8% hike in fares next year, not just for trains but also potentially for TfL’s bus and Tube services as well.
“Government should think hard about whether it goes ahead with its plans to raise fares and should say when its rail reforms will deliver real improvements to services.
“And we look forward to seeing how TfL plans to keep its fares affordable for those who need it most, while also ensuring it is investing enough in the capital’s transport network.”
A TfL spokesperson told The London Standard: “The Mayor will set out what happens with fares, but the government has been clear that the funding in the settlement is provided against an assumed scenario that overall TfL fares will rise by the value of RPI+1 for each year of the settlement.”
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