Comment 6 for bug 171651

I would also request that the wrapping margin path be modifiable individually too.

In the meantime until proper word wrapping ( - "flow text around wrap-enabled object, above or below text box" - ) is coded into Inkscape here is a work around. Harsh but useable:

Grab your text box, move it off to the side of the canvas.

Make an object, in the place of the text box; usually a box, but not limited to a box shape.
Layout your images or objects as desired.
Make a copy of the object or image that you want to wrap around.
 - Either use Linked Offset to simulate "wrap margin", or
 - Draw the margins by hand.

Select the margined-object and the object-pretend-text-box.
Path > Difference
Select the object-pretend-text-box and the real text box.
Text > Flow into Frame.

This will do a sort of text-on-path thing.
!NOTE! that are now two objects!

1) text-frame-copying-fake-shape
2) fake-shape

If you are concerned about printing objects and lines move the fake-shape off the canvas.
The text-frame-copying-fake-shape is still controllable via the fake-shape nodes and paths.