According to an announcement by the UK Department for Transport, regulated rail fares are set to fall by almost 0.4 percent. This drop in rail price is scheduled to happen January of 2010. The new announcement came in reaction to the inflation figures that were released by the Office for National Statistics.

The inflation figures that were released by the Office of National Statistics showed that the retail price index dropped by 1.4 percent year on year in July after falling at a record pace of 1.6 percent in June. In the UK, most train fares are currently regulated by the government. According to law, regulated fares can only be risen by 1 percent above the Retail Price Index inflation figure.

The transport secretary, Andrew Adonis, went on to say: “For the first time in a generation passengers across the country will see their fares fall. Drops in fares should encourage more people to travel by train, which is good for the economy and the environment.”

In the UK, there has been a lot of news circling around rails lately. A lot of talk have been placed on the new plan by the government to replace short haul flights with high speed rails. This is a move that airlines are not happy with.

Just recently another report came out that showed that building and operating high speed rails to replace short haul flights would actually increase the amount of CO2 emitted in the air. This is something that the UK is working on getting under control.

Thanks to www.rttnews.com for the above quotes.