I read an article the other day that explained the shortage. Basically it's what others have said, it's all cause by folks hoarding.
Basically the ammo mfgs are still making the same amount they always have. The reason they haven't ramped up production is that the margins on .22 are slim to none, or nearly so. That being the case, they put a priority on producing the calibers that they can make the most money on.
Too, the article says the mfgs are still charging the same wholesale price for the .22 as they always have, for the simple fact they know if they charge more there will be a HUGE public outcry, just as there has been every time they raised the prices in the past. Thus the reason margins on it are so slim. The only thing causing the price in increase are the hoarders that are buying it all up, therefore causing a false supply and demand situation, and then taking advantage of people stupid enough to pay their outrageous prices for it.
When people wizen up and realize that by paying $50 for a $20 box of ammo, all they are doing is making the 'shortage' go on longer than it needs to. Right now there are other calibers that are just as cheap, if not cheaper, to shoot than the .22 at it's inflated prices.
Find a nice 9mm, .223/5.56, or 7.62x39 or whatever, and have fun. With these rounds all going for around .20-.25 each, you can't go wrong.
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