Cost of public transport up much more than motoring in last decade - RAC Foundation
Fri 24 January 2014
View all news
Figures recently published by the RAC Foundation show that the cost of using public transport has risen much faster than the cost of motoring over the last ten years. Rail and bus fares are up by over 60% since 2003, while the overall cost of motoring is close to the rise in the general cost of living, up around 35% in the same period.
This chart published on the RAC Foundation website plots over a rolling ten year period the percentage change in the cost of motoring and the cost of rail and bus fares. Also plotted is the cost of living (RPI).
While motoring costs overall, seem to have fallen slightly in real terms, the RAC Foundation commentary says that this disguises the fact that while the (often discretionary) cost of buying a new or second hand vehicle has been falling, (non-discretionary) operating costs such as fuel and insurance have risen significantly faster than inflation.
The data shows that the cost of purchasing a vehicle was around 15% lower in nominal terms in 2013 than in 2003 (significantly more in real terms).
Related Links
< Back to news list