Shares of Rent the Runway plunged more than 22% before the bell on Tuesday, as more Americans paused their subscription to the clothing rental firm as they feel the pinch of red-hot inflation.
The company said while it saw subscriber numbers bounce back in August and September, it was still difficult to predict how consumers would behave given an uncertain macro backdrop.The Consumer Price Index for All Urban Consumers rose 0.1% in August on a seasonally adjusted basis after being unchanged in July,Over the last 12 months, the all items index increased 8.3% before seasonal adjustment, a smaller figure than the 8.5% increase for the period ending July.
The survey also marks a return to doom and gloom after August's iteration found investors were bearish but no longer"apocalyptically" so. Analysts and traders say wholesale gasoline prices are expected to keep falling in coming months as U.S. refiners overproduce fuel to try to rebuild low stocks of diesel and heating oil.
Economists expect the gauge, which measures a basket of goods, including gasoline, health care, groceries and rent, to show that prices surged 8.0% in August from the previous year — down from the 8.5% reading in July and a marked decline from the 40-year high of 9.1% notched in June.
MIGOP At least the 1% is still in the top 1%. That’s all we really care about 🥴
Is Ryan Payne dillusional making comments about 'looking backwards' talking about today's inflation numbers? I told my wife, yesterday, the price of food and gas went UP. Yes,I do the grocery shopping. An 8oz. can of mushrooms, when Trump was in office, $0.89. Now it's $1.99.
What ever happened to that noble peace prize economist said everything just fine 🌎💥
Inflation didn't skyrocket in August. Can you just once PRETEND to be a news organization and not a Team Red propaganda machine?
More exciting news as our economy continues to crumble. Heard the Railroad Union is possibly going to strike. Wonder what type of strain that will add to the supply chain. Not to worry as the VP Harris has hit the trail stirring up more division over the Abortion issue. 🇺🇲😥
Thanks Joe!!! 🤬
Good job democrats
THANKS JOE
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Oops
Thanks democrats
1 wonders if Joe Biden did that with inflationary spending
Economy is doing great… best economy is decades… just ask my people
Bidon is a world disaster ...
That will move back up tomorrow, I’m more interested in the documents Trump just admitted taking
*actually rose 0.1% in August
Oh wow!!
While Joe Biden celebrates!
For the peasants
Sleepy’s America
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