Somedays I run across interesting graphs – this one is adjusted for inflation, and demonstrates that the price of ammunition is more closely related to the cost of labor than the cost of materials. Every point on the chart is set on the equivalent in 2022 dollars of a single 22 long rifle cartridge.
From the perspective that labor is dead capital, the chart suggests that 2000 was the best time to purchase 22 ammunition – but despite the current price, the second-best time to buy 22 ammunition is today.
The linked article won’t take long to read.
This link shows annual inflation rates since 1913: