LONDON (AA) – Rail fares in the UK will increase by nearly 6% from March to support “crucial investment and the financial stability” of the railway, a Transport Department statement said on Thursday.

“The government is freezing them for the entirety of January and February, giving passengers more time to purchase cheaper flexible and season tickets at the existing rate,” the statement said.

Transport Secretary Mark Harper said: “This is the biggest ever government intervention in rail fares. I’m capping the rise well below inflation to help reduce the impact on passengers. It has been a difficult year and the impact of inflation is being felt across the UK economy. We do not want to add to the problem.”

The annual inflation rate in the UK jumped to 11.1% in October from 10.1% in September, its highest since October 1981, leading to a fall in real wages.

Britain is currently experiencing a wave of industrial action, including those from nurses, postal workers, and university lecturers, sparked by a bitter cost-of-living crisis amid soaring inflation and a deteriorating economy.