Self-employed welcome low inflation as travel overheads drop
IPSE has responded to today's (13 September) Consumer Prices Index (CPI), which remained at 0.6% in the year to August 2016, unchanged from July.
Lorence Nye, IPSE Economic Policy Adviser, commented: “We know that freelancers were seriously worried about inflation; our research shows over two thirds expected their business costs to rise over the next 12 months. These freelancers will be relieved to see that prices have actually been little affected by Brexit and the falling value of sterling.
“The self-employed generally travel much further for work than their counterparts in employment, with hotel costs one of their biggest expenditures, so the fall in accommodation prices is good news. However, the rise in air fares may hit those freelancers who regularly travel abroad for work.”