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Going by the BoE's Inflation Calculator* inflation averaged 3.1% per year between 2001 and 2011.
What cost £1 in 2001 cost £1.35 in 2011.
Does this mean that an annual inflation rate of nearly 5% is needed to 'justify' the rise in rail fares?
*
http://www.bankofengland.co.uk/education/Pages/inflation/calculator/flash/default.aspx
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