Rail fares, inflation, pension deficits and savings cuts

Rail fares have increased at double the speed of wages since 2010, research by trade unions suggests.

Fares have risen by 25 per cent in the past six years, while average weekly earnings have grown by 12 per cent, analysis by the TUC and the Action for Rail campaign shows. Meanwhile, official figures released this morning show that the UK’s inflation rate, as measured by Consumer Prices Index, rose to 0.6 per cent in July. That compares with a rate of 0.5 per cent in June. Inflation as measured by the Retail Prices Index picked up to 1.9 per cent in July, from the previous month’s rate of 1.6 per cent. July’s RPI inflation rate sets the cap for how much regulated rail fares in England, Scotland and Wales can rise by next year. The jump in RPI means that regulated rail fares will go up by 1.9 per cent next year. Pensions

The combined pension funds deficit for companies in the FTSE 100 has seen huge increases in the past year, according to pensions expert LCP.