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New transport fares will come into effect this Sunday.

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The yearly rise will see passengers pay on average 2.7 per cent more for their travel around the capital in 2014, falling under Retail Price Index inflation at 3.3pc.

Oyster and contactless payment bus fares have gone up by 5p, jumping to £1.45 per trip, while the daily £4.40 cap and £2.40 cash fare is frozen. Pay as you go caps are also frozen for the second year running.

Weekly, monthly and annual travelcards will increase by 3.1pc, in line with National Rail, and three pay as you go tube fares have increased by 10p, including zone one peak and off-peak adult fares and the zone one to two off-peak fare.

All free and concessionary travel for young, elderly and disabled Londoners, as well as veterans and members of the armed forces, has been protected in full.

Fares on the Emirates Air Line have also gone up by 10p except for multi-trip Oyster fares for regular users which will remain at £1.60.

Visit london.gov.uk for a full list of Tfl fares for 2014.

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