Londoners are set to face a significant increase in Tube fares next year, with prices on the London Underground expected to rise by 5.8% as part of Transport for London’s annual review.
City Hall has confirmed that the fare hike, due to take effect in March, is linked to conditions attached to TfL’s government funding. Meanwhile, National Rail fares across England will be frozen to support passengers during the cost-of-living crisis — but this protection will not extend to Tube users.
According to a source close to City Hall, the increase is required because TfL’s capital funding settlement obliges the transport authority to raise fares above the Retail Price Index. The spring spending review stated that TfL would receive more than £2 billion for major infrastructure projects only if it demonstrated financial “prudence” by increasing fares at RPI+1.
They added that this funding requirement meant TfL had little choice but to raise London Underground and Overground prices once again, as fares usually rise each March unless a freeze is implemented — something not planned for 2026.
A 5.8% rise is expected to add between 5p and 20p per journey from March, depending on the ticket type.
For example, an off-peak Zone 1–2 Tube journey currently costing around £3.50 could increase to approximately £3.70.
Full details of the new fare structure for all ticket categories are due to be released before Christmas.
London Mayor Sadiq Khan told The Standard that the government’s expectation for TfL to raise prices is “not unreasonable”, saying that increasing fares by RPI+1 “pays for around £450 million towards capital investment”.
He also confirmed that there will be no Tube fare freeze, stressing that the freeze announced by the government applies only to national rail services, not to London’s transport network. Travelcard prices are also expected to rise.
As part of the autumn budget, regulated rail fares in England will be frozen — the first freeze of its kind in decades. This measure, lasting until March 2027, covers:
• commuter routes
• off-peak long-distance return tickets
• some flexible ticket types
The move aims to provide relief for passengers nationwide, even as Londoners prepare for higher Underground fares.
