Self-employed react to inflation figures
IPSE, the Association of Independent Professionals and the Self Employed, has reacted to the UK’s Consumer Price Index, which fell to – 0.1% in September.
Commenting on the news, Lorence Nye, economist, IPSE said: “The slight deflation in the UK economy is good news for the self-employed community. Lower prices keep business costs down at a time when this is a significant concern for many independent professionals. Our research has shown freelancers’ daily rate of pay improve in recent months and continued low inflation levels should make them feel better off in real terms.
“With most freelancers travelling considerably more for work than conventional employees, the fall in fuel prices and transport costs will be a welcome confidence boost for independent professionals. We remain far from the Bank of England’s target inflation rate of 2%, so the Monetary Policy Committee should continue to take a cautious approach on the timing of raising interest rates.”