Virtually every English university will see its funding slashed for the next academic year, official figures show.

Universities which focus on teaching more than research and some specialist institutions will be the hardest hit. Just one will see a real terms rise in its grant.

Even the most prestigious universities, such as Oxford and Cambridge, will see their funding cut in real terms.

New data published by the Higher Education Funding Council for England (HEFCE) revealed all but five of 130 English universities will see a cash terms reduction in their grant for the academic year 2011/12.

But taking into account inflationary measures of around 2.4 per cent, an analysis of the figures suggests that in real terms, only the London School of Hygiene and Tropical Medicine will see its funding rise, up by 2.2 per cent this year.

A spokesman said it was pleased not to be facing the same level of cuts as many other institutions but added that uncertainty about future funding remained and it was "under no illusions about the challenges ahead".

HEFCE chief executive, Sir Alan Langlands, said: "Universities that don't lose out so much are those that benefit from the very modest nature of the cut in research funding, as opposed to the more significant cut in teaching funding."

Recurrent teaching grants have been cut by 8.2 per cent from 2010/11 grants, while recurrent research funding has been reduced by 2.8 per cent.

The universities closest to 0 per cent in terms of changes to their funding are those which have high levels of world leading and internationally excellent research, Sir Alan said, and those with good incomes from the charity and business communities.

The figures show in cash terms, the other four institutions to see an increase are the Courtauld Institute of Art, Imperial College London, the London School of Economics and Oxford University. All of these will see their funding cut in real terms. Oxford's funding in real terms will be cut by one per cent, while Cambridge University's will be cut by three per cent.

Among the biggest losers are Bishop Grosseteste University College, Lincoln, which will see funding cut by 13.4 per cent in cash terms and 15.8 per cent in real terms.

City University in London will see its funding reduced by 8.4 per cent in cash terms and 10.8 per cent in real terms, while funding at the University for the Creative Arts is down 7.8 per cent in cash terms and 10.2 per cent in real terms.

Also seeing high real terms cuts are the Royal Agricultural College (10.3 per cent) and Sunderland University (8.8 per cent).

All of these figures show the percentage change in a university's grant, excluding money from the University Modernisation Fund.

The one-off fund, set up by the Government last year to provided money to institutions to help them prepare for forthcoming spending cuts, has also been removed this year.

According to the data, the University of London will see a cash terms cut of 62.6 per cent.

Sir Alan said it was possible and even "quite likely" that higher education income would hold up during the spending review period.

The funding settlement comes at a time when universities are deciding on new fee levels for 2012.