MTR fares frozen this year

The MTR Corporation announced on Friday that, according to the established Fare
Adjustment Mechanism and the latest statistics published by the government, there will be no adjustment of its fares this year.

According to the mechanism, the adjustment rate of MTR fares fell slightly below the threshold of 1.5 percent, standing at 1.45 percent. As a result, MTR will freeze its fares this year, marking the first time since the review of the MTR fare adjustment mechanism in 2023.

The Census and Statistics Department of the government released the final piece of data affecting fare adjustments today.

The nominal wage index in the transport industry rose by 3.1 percent year-on-year in December last year. Taking into account the previously announced 1.4 percent increase in the consumer price index by the government and a 0.8 percent "productivity factor," the fare adjustment rate was determined to be 1.45 percent, falling below the 1.5 percent fare adjustment threshold.

The scheduled 1.91 percent deferred increase for this year will also need to be addressed next year, based on the mechanism.