Lemonade, Inc. (LMND) provides various insurance products in the United States and Europe. Its products cover stolen or damaged property and personal liability. The company also offers renters, homeowners, pets, life insurance products, and landlord insurance policies. In addition, it operates as an agent for other insurance companies.
The consumer price index data revealed that inflation had risen 8.6% in May from the year-ago period, the highest since December 1981. In its efforts to tame the surging inflation, the Federal Reserve has increased the benchmark interest rates thrice this year, with the recent 75 basis-point increase happening to be its most aggressive rate hike since 1994.
