My final contribution on this subject!

Yesterday I received my Amex bill covering my most recent trip to the US. On 16 May my wife and I had lunch at the Cheesecake Factory in Naples. We shared a hummus & flatbread starter and then I had a mineral water and a smaller (lunch sized) pasta meal while my wife had a rice and seafood dish with a soft drink. No dessert, no coffee, no alcohol. I don't recall the precise amount I tipped on this occasion but I always give between 18-20%. My statement shows that meal cost me £36.

We enjoyed the meal and I would have no hesitation in going back and paying the same amount in the future. However, I could very easily have had a comparable lunch in a comparable restaurant here at home for less than that and indeed have done so in the last few days. I have no desire to drink multiple coffees or cokes during my meal even if they are free (and at the Cheesecake Factory they aren't).

A couple of years ago, that meal would probably have cost between £20 & £25 and earlier this year, about £31. I have visited and bought meals in the US, Europe and Asia already this year and there is no doubt that prices across the world are rising but the impact of the £/$ exchange rate collapse over the past couple of years has a had a dramatic effect on the differences between prices in the US & UK. Claims that goods across the board are 'much cheaper' or even 'half the price' in US supermarkets and stores these days are, frankly, fantasy.

I'll keep going to the US because it has a lot to offer as a holiday destination (and those who wish to promote its benefits instead of just seeking to trash the competition have plenty to work with) but I won't be attempting to persuade myself and others that it's the land of cheap prices and bargain eating out anymore. I'd love to go back to the $2/£1 days but, for now, I'll have to live in the real world.