The TTC is expected on Wednesday to confirm a fare increase that will take effect in the new year.

The increase is on the commission's agenda for Wednesday’s meeting. A staff report that will be presented at the meeting says "a modest fare increase in line with the rate of inflation is required to balance the budget."

It previously approved in principle the five-cent fare hike for Jan. 1.

The hike will affect tokens, which would go to $2.65 each, up from $2.60. It also applies to tickets for students and seniors, which would go up to $1.80 from $1.75.

Adult monthly Metropasses would go up to $128.50, an increase of $2.50, while weekly metropasses would go up $1 to $38.50.

Adult cash fare would stay at $3, student and senior fares are unchanged at $2, as is the cash fare for children, which remains at $0.75.

The TTC's operating budget in 2013 is projected to be $1.54 billion, an increase of four per cent compared to the previous year.