I don't really understand why people are focusing on the £3.20 a bowl aspect. Go into any little cafe and a sandwich and cup of coffee will cost you at least £7 when you could make the same at home for pennies. We went out for dinner two nights ago and it cost £70 - I could have made the same food at home for less than £10...
Not that I personally would pay that for a bowl of cereal but I really don't think the inflated cost of eating out is the point, that's pretty standard.
Property prices in London are, obviously, a huge problem but...
... That's the effect of a free market capitalist economy, and people seem to be all for it in other circumstances. Not here for Tories suddenly getting all socialist - but only when it comes specifically to London house prices
.