Londoners are facing "another 10 years of above-inflation fare rises", Labour has said.
The comment came as London Mayor Boris Johnson published a Transport for London (TfL) business plan for the years up to 2022/23.
The plan said: "For the purposes of this business plan, annual (fare) increases of RPI+1% have been assumed."
Labour London Assembly spokeswoman Val Shawcross said: "Under Boris, Londoners are now facing another 10 years of above-inflation fare rises. We have already seen fares go up above inflation for the last five years. The Mayor needs to realise that Londoners are struggling, it is time he reined these inflation-busting fares in."
Thanks to funding from the Department for Transport (DfT), the bus and Tube fare rise in London has been limited to RPI (retail price index inflation) plus 1%.
The DfT funding also allows for a holding of the annual fare rise to RPI plus 1% in January 2014, although the actual increase for January 2014 and beyond will be decided by the Mayor.
A TfL spokesman said: "The level of fares is decided by the Mayor each year. Things could change in the future."
In the plan, Mr Johnson promises a doubling of planned spending on London's roads over the next 10 years - from a planned £1.9 billion to £3.8 billion. The plan also includes Tube and cycling improvements.
Mr Johnson said: "As sure as night follows day investment in transport drives economic activity and investment in the capital benefits the entire country. In this business plan we are setting out a comprehensive programme of improvements with the aims of providing both hugely better services for Londoners and also to drive the economic motor of this great city and encourage new development."
Mr Johnson went on: "Our funding settlement with Government expires at the end of 2014/15 and we are already making a strong case for new funding we will use to deliver a transport system that will keep London and the UK working and growing in an incredibly competitive global market place."