Shanghai isn't a cheap city, at all. But one thing which is very reasonable are the metro fares. On average they're about 3-4 yuan (about 30-40p). That's really very good value.
Somebody told me that Chinese people like talking predominantly about two things: money and food. So the huge indoor food market I saw today made total sense to me: there was nothing that was unavailable, alive or dead.
Despite the cornucopia of delicious Chinese produce on offer there, I ended the day in a beautiful little Japanese izakaya in Pu Dong, with a Japanese meal and sake.