Public transport passengers in London could face a further hike in fares next year due to inflation. Transport for London told the London Assembly’s budget and performance committee that the rate of inflation was affecting its costs and some of that may have to be passed on to passengers next year.

It is likely TfL will recommend that London Mayor Boris Johnson raises fares by two per cent on top of inflation, which would mean a seven per cent increase based on current estimates.

Fares already increased by an average of 12.7 per cent on buses and 3.9 per cent on the Tube and DLR in January of this year.

John Biggs, who chairs the committee, said: “Londoners have already been hit by a hike in fares this year, particularly bus passengers, who bore the brunt of the rises. We are looking at how the existing fare increases have already affected passengers in the capital and we will also assess whether further rises on the scale suggested today by Transport for London can really be justified.”

Jo de Bank of London TravelWatch said: “We know there is a funding gap but passengers must not be priced out of public transport. People will be left stranded if they cannot afford to travel, particularly on buses, which people on lower incomes tend to use.