The cost of traveling in New York City is going up by a quarter.
Beginning March 22, the cost of a subway or bus ride will cost $2.75, under a package of fare increases approved Thursday by the MTA.
The price of an unlimited-ride monthly MetroCard will increase by $4.50, to $116.50. The bonus for pay-per-ride MetroCards will increase to 11 percent from 5 percent.
Fares will also jump an average of about 4 percent on the Long Island Rail Road and the Metro-North Railroad, and tolls will rise on the MTA’s bridges and tunnels.
The subway system — the nation’s biggest mass transit network — has recently seen record ridership, with more than 6 million customers on some days. But the MTA’s proposal for a $32 billion five-year capital plan to fund infrastructure improvements has a $15 billion funding shortfall.
Subway and bus fares last increased in 2013, when the cost of a single ride rose from $2.25 to $2.50.