Freelancers are feeling the latest inflation rise more than employees, according to the Association for Independent Professionals and the Self-Employed (IPSE).
The warning for freelancers came after the Office for National Statistics revealed that inflation rose by a higher than expected 2.7% in August.
Measured by the Consumer Prices Index (CPI), this was the highest monthly price increase in six months.
Jordan Marshall, IPSE’s Policy Development Manager said: “Freelancers will be especially hard hit by this jump in inflation not only because, unlike employees, they pick up their own business costs, but also because they travel more to win and work on different contracts. They will particularly feel the effect of the 13.5 per cent jump in air fares, because many of them take up contracts overseas and travel long distances in the UK.