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‘Rich’ people reportedly head to Applebees, IHOP during high inflation

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There are three factors that could lead to inflation which include demand-pull inflation, cost-push inflation and built-in inflation.It appears that inflation has finally hit the wealthy.

A New York Post report found that rich people are feeling the pinch as they seek a spot to dine out. Applebee’s and IHOP claim "richer" people are "trading down," to enjoy the chain’s well-known burgers and pancakes. "Guests that often dine at more expensive restaurants are finding Applebee’s and IHOP because of their well-known value position," parent company Dine Brands chief executive John Peyton told the Post.

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