I used to buy Fenix ammo at local (Michigan) gun shows. Right now their 9mm FMJ is going for $31-$34 for a box of 50, compared to $12-$14 a box before The Troubles. Ouch!
But their component prices are increasing, so they’re not gouging.
I did read that components are back logged as well.
Yes, component prices have increased, but this is still price gouging. I have two stores within 2 miles of my house that have regularly had ammo on the selves. One has a policy of not jacking up the prices and has only been charging $12.50/box of 50 for 9mm ball 115gr ($12.95 for 124gr ball). The other has been charging between $20-$25. My last 9mm purchase was 4 weeks ago and I bought the store limit of 100 rounds of 9mm for $26.50 (tax included).