It has been announced the fares on London's Buses, Tubes, Rail and DLR services are to rise by an average of 7.7% from January 2012.

The fare rise was announced by Mayor of London Boris Johnson and represent an increase of around 7% - or 2% above the current rate of inflation.

On London's buses, the Oyster pay as you go fare will rise by 10p to £1.40. On the Tube, Oyster pay as you go fares typically increase by between 10p and 30p. There will be a bigger increase of between 30p and 40p for cash fares on the Tube, (which are now used by just one per cent of Tube users), further nudging all travellers to use Oyster and pay in advance of travelling.

London Travelcard season ticket prices (for use on TfL and National Rail services) will rise by RPI + 3 per cent i.e. 8% overall meaning that those of us locally who use the Bowes Park Line to Moorgate will see an even bigger increase in fares.

Read the full press release from TfL