British tourists expected to suffer huge increase in ticket prices in the UK
It was stated that air ticket prices in the UK recorded a 44.1 percent increase year-on-year in December 2022. According to the data of the British Office for National Statistics (ONS), the ticket prices of airlines in the country recorded the highest increase seen since the end of the 1980s with 44.1 percent in December on an annual basis.
In the ONS statement, it was explained that people were able to travel with their families to celebrate Christmas for the first time since 2019 and the increase in demand as well as fuel prices played an important role in price increases.
In December last year, train ticket prices also increased by 17.5 percent
In the statement, it was also reported that as of last month, due to the strike decisions of employees, disrupted and reduced train services, train ticket prices had also increased by 17.5 percent in december of last year in the country. In the statement of the statistical institution, it was noted that public transport ticket prices in the country had increased by 11.3 percent year-on-year in the same period.
The Bank of England (BoE) most recently announced last month that the policy interest rate was increased by another 50 basis points to 3.50 percent in order to combat high inflation. The BoE expects inflation to remain above the 10 percent level in the first quarter of this year and to decline in the second half of the year. In December of last year, the Consumer Price Index in the country recorded an increase of 10.5 percent year-on-year. (TA)
