Torres left Liverpool for £50 million on transfer deadline day.
Hodgson said: "Am I surprised Torres went for £50million? No, I am never surprised at transfer fees.
"We've got to the stage where comparisons are worthless. If a player is a very good player, and you want him, you pay what the price is.
"If the price is £50million, then you pay £50million.
"Fernando is an outstanding player, a very good person, and I think he will do extremely well at Chelsea.
"I presume he was happy to leave. I've had text messages from him."