Some things stay the same

I heard an interview with Daniel Boulud not too long ago and one of the questions asked went something like, what effect is the spike in food costs taking on your menu prices?  Now, please don't take this word for word as I don't quite remember the exact interview, but his response was something to the effect that restaurant prices no longer rise due to the economy.  He referenced the price of a calf liver dish served during lunch at the Four Seasons in the late 80's.  The cost of the dish at lunch was something like $38.  The price of food (even wholesale) has risen roughly 20% since then and the prices on restaurant menus have gone down roughly 10%.  I know that the Four Seasons is hardly an average dining establishment, but it is an interesting metaphor to the economics of the industry over the past several years.  While food prices have skyrocketed, menu prices have consistently been on the decline.  Interesting.  No wonder everyone thinks running a restaurant is easy.  Wow, the 80's sure messed everything up...