[javajosh]

Habits have momentum, and people aren't paying close attention to prices. They may not actually realize that the cost of fast food (FF) is now the cost of a sit down meal (SDM) at a full-service restaurant. So for a while FF feels cheaper than SDM even when it isn't, and FF chains can reap considerable benefits. They may retain the feeling of being affordable for many years after becoming not so. The same thing has happened with supermarket food prices: the cost of a steak at the supermarket now rivals the cost of an SDM, and all the trimmings and service. The price of an ordinary loaf of bread at places like Whole Foods is $8. But Trader Joe's prices and Costco prices have remained more-or-less constant.