Fresh figures showing inflation is still barely in positive territory have been welcomed by IPSE, the trade body for self-employed workers.
Against a backdrop of many one-man bands worrying about the cost of doing business rising, IPSE believes a tiny uptick in the CPI to 0.2% in December will be a relief to them.
But the body is alert to the upward movement in transport costs – which the Office of National Statistics puts down to steeper air fares last month and, to a lesser extent, motor fuels.
As freelancers “tend to travel longer distances for work than conventional employees,” IPSE says the jump in transports costs may add to freelancers’ concerns about their bottom lines.
However a drop in alcohol, tobacco and food costs “partially offset” the rise, found the ONS, resulting in inflation being held low last month at barely positive.
“The continued low inflation is generally good news for the self-employed,” reflected IPSE’s Andy Chamberlain. “[The inflation] figures are unlikely to trigger a rise in interest rates any time soon.