{"id":1470993,"date":"2022-05-11T07:59:57","date_gmt":"2022-05-11T11:59:57","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1470993"},"modified":"2022-05-11T08:00:05","modified_gmt":"2022-05-11T12:00:05","slug":"why-gun-prices-are-sky-high","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/why-gun-prices-are-sky-high\/","title":{"rendered":"Why Gun Prices Are Sky High"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">12<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fwhy-gun-prices-are-sky-high%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1470993&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p><strong>Gun Sales Are on the Decline, But Prices Remain High \u2013<\/strong> <a href=\"https:\/\/www.19fortyfive.com\/2022\/05\/why-cant-america-pump-more-oil-to-lower-gas-prices\/\">Everything<\/a> is costing a bit more these days. The annual inflation rate<a href=\"https:\/\/tradingeconomics.com\/united-states\/inflation-cpi\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/tradingeconomics.com\/united-states\/inflation-cpi&#038;source=gmail&#038;ust=1652300734874000&#038;usg=AOvVaw0lRMumo8Lg-DGkWccX0QHX\">\u00a0hit 8.5 percent<\/a> in March, the highest since December of 1981 and up from 7.9 percent in February. <a href=\"https:\/\/www.19fortyfive.com\/2022\/05\/interest-rate-hike-the-federal-reserve-declares-war-on-inflation-it-caused\/\">Inflation<\/a> has\u00a0<a href=\"https:\/\/ilostat.ilo.org\/inflation-more-than-doubled-between-march-2021-and-march-2022\/#:~:text=The%20annual%20rate%20of%20inflation,per%20cent%20in%20December%202021.\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/ilostat.ilo.org\/inflation-more-than-doubled-between-march-2021-and-march-2022\/%23:~:text%3DThe%2520annual%2520rate%2520of%2520inflation,per%2520cent%2520in%2520December%25202021.&#038;source=gmail&#038;ust=1652300734874000&#038;usg=AOvVaw3WVNMDg1niMrP0saM8HpIQ\">more than doubled<\/a> since March 2021. That has translated into higher prices for everyday goods, including food and <a href=\"https:\/\/www.19fortyfive.com\/2022\/04\/gas-price-drop-americas-allies-agree-to-release-of-120-million-barrels-of-oil\/\">gasoline<\/a>, while consumer electronics and outdoor products have also been steadily rising in price.<\/p>\n<p>Consumer demand and spending have largely been blamed for the high prices of durable goods, while the price of firearms has also remained high even as demand for guns has waned in recent months. The <a href=\"https:\/\/www.19fortyfive.com\/2021\/09\/could-gun-sales-for-august-smash-records\/\">pandemic surge<\/a> of gun sales, which was driven in a large part by many<a href=\"https:\/\/www.19fortyfive.com\/2021\/09\/fact-women-make-up-nearly-half-of-this-years-gun-sales\/\"> first-time buyers<\/a>, has decreased \u2013 yet firearms sales remain higher than pre-pandemic levels. That, in turn has resulted in the high prices \u2013 and also a shortage of <a href=\"https:\/\/www.19fortyfive.com\/2022\/05\/ammo-shortage-2022\/\">ammo<\/a> as well and <a href=\"https:\/\/www.19fortyfive.com\/2022\/05\/why-is-ammo-so-expensive\/\">high prices<\/a>.<\/p>\n<p><strong>State of the Industry<\/strong>\n<\/p>\n<p>In its most recent earnings call, Sturm, Ruger and Company, the leading seller of American firearms, reported a 10 percent year-over-year drop in fiscal first-quarter revenue to $166.6 million, which company CEO Chris Killoy acknowledged came from \u201cconsumer demand for firearms (subsiding) from the unprecedented levels of the surge that began early in 2020.\u201d Additionally, Smith &#038; Wesson Brands reported fiscal-third-quarter results in March that showed a 31 percent slide in sales.<\/p>\n<p>That was reflected in U.S. firearms sales, which fell in April but are still <a href=\"https:\/\/247wallst.com\/special-report\/2022\/05\/09\/gun-sales-plunged-heres-each-states-figure\/\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/247wallst.com\/special-report\/2022\/05\/09\/gun-sales-plunged-heres-each-states-figure\/&#038;source=gmail&#038;ust=1652300734874000&#038;usg=AOvVaw2YMFE_CQDlK198GliEq2l1\">well above pre-pandemic levels<\/a>. According to industry data, monthly sales of guns have surpassed 1 million units for 33 months in a row. Monthly sales of at least 1.25 million firearms could be the new normal.\n<\/p>\n<p>In addition, gun sales background checks for 2022 to date are still 6 percent higher than during the first four months of 2016, which previously held the record for the most background checks, and even as purchases may be <a href=\"https:\/\/www.fool.com\/investing\/2022\/05\/07\/are-gunmakers-really-being-hurt-by-gun-sales-slump\/\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.fool.com\/investing\/2022\/05\/07\/are-gunmakers-really-being-hurt-by-gun-sales-slump\/&#038;source=gmail&#038;ust=1652300734874000&#038;usg=AOvVaw0_Pj6w3M71c44JAdtmzkeH\">down from the white-hot levels<\/a> reached during the pandemic and its immediate aftermath, firearm sales remain above historical trends.<\/p>\n<p><strong>Economic Growth<\/strong>\n<\/p>\n<p>The firearms industry has also seen steady growth. According to data from the National Shooting Sports Foundation (NSSF), the firearms industry trade association, the\u00a0<a href=\"https:\/\/www.nssf.org\/articles\/firearm-industry-economic-impact-rises-269-since-2008\/\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.nssf.org\/articles\/firearm-industry-economic-impact-rises-269-since-2008\/&#038;source=gmail&#038;ust=1652300734874000&#038;usg=AOvVaw2610iPk6RQtdGF2g7FBKoQ\">total economic impact<\/a>\u00a0of the firearm and ammunition industry in the United States increased from $19.1 billion in 2008 to $70.52 billion in 2021, a 269 percent increase. In addition, the total number of full-time equivalent jobs rose from approximately 166,000 to over 375,819, a 126 percent increase in that period.\n<\/p>\n<div id=\"attachment_25199\" class=\"wp-caption aligncenter\">\n<p id=\"caption-attachment-25199\" class=\"wp-caption-text\">Image: Creative Commons.<\/p>\n<\/div>\n<p>\u201cThe economic contributions of our industry are indisputably contributing to every state and every community. This is the hallmark of the hard-working men and women who prove that the American firearm and ammunition industry is strong,\u201d said Joe Bartozzi, NSSF President and CEO. \u201cThe growth of firearm and ammunition manufacturing year-after-year shows that this industry continues to meet the American demand for lawful firearm ownership. This industry produces the highest quality firearms and ammunition, and has been proud to welcome over 5.4 million first-time gun buyers in 2021 alone.\u201d\n<\/p>\n<p>Despite the growth that the industry has seen, it was greatly impacted by the pandemic and the subsequent supply chain woes. Many\u00a0<a href=\"https:\/\/www.durangoherald.com\/articles\/demand-for-guns-and-ammo-near-record-highs-but-some-shops-hit-hard-by-supply-chain-hang-ups\/\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.durangoherald.com\/articles\/demand-for-guns-and-ammo-near-record-highs-but-some-shops-hit-hard-by-supply-chain-hang-ups\/&#038;source=gmail&#038;ust=1652300734874000&#038;usg=AOvVaw1lesTs9Ff5ZzFcMqwkG1GO\">gun shops even struggled<\/a>\u00a0to keep product on the shelves during the mad rush of 2020 and early 2021, and only now is supply meeting demand. For manufacturers, there are still\u00a0<a href=\"https:\/\/shootingindustry.com\/discover\/supply-chain-woes\/\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/shootingindustry.com\/discover\/supply-chain-woes\/&#038;source=gmail&#038;ust=1652300734874000&#038;usg=AOvVaw39PhUbubVAUUNuy2sp1JLl\">supply chain bottlenecks<\/a>\u00a0to contend with, while the cost of raw materials continues to go higher.\n<\/p>\n<p>As a result, overall demand for firearms may be slowing, but prices are only expected to go higher in the coming months.\n<\/p>\n<p><em>Now a Senior Editor for 1945, Peter Suciu is a Michigan-based writer who has contributed to more than four dozen magazines, newspapers and websites. He regularly writes about military hardware, and is the author of several books on military headgear including\u00a0<\/em><a href=\"https:\/\/www.amazon.com\/Gallery-Military-Headdress-Peter-Suciu\/dp\/0980656729\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.amazon.com\/Gallery-Military-Headdress-Peter-Suciu\/dp\/0980656729&#038;source=gmail&#038;ust=1652300734874000&#038;usg=AOvVaw0BEC3qFjtdJg_K87GL9rKG\"><em>A Gallery of Military Headdress<\/em><\/a><em>, which is available on Amazon.com. Peter is also a\u00a0<\/em><a href=\"https:\/\/www.forbes.com\/sites\/petersuciu\/?sh=2a2f53789bd3\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.forbes.com\/sites\/petersuciu\/?sh%3D2a2f53789bd3&#038;source=gmail&#038;ust=1652300734874000&#038;usg=AOvVaw3_oUfvds4rBCPFCIb9ONQy\"><em>Contributing Writer<\/em><\/a><em>\u00a0for Forbes.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gun Sales Are on the Decline, But Prices Remain High \u2013 Everything is costing a bit more these days. The annual inflation rate\u00a0hit 8.5 percent in March, the highest since<\/p>\n","protected":false},"author":489,"featured_media":1894259,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1470993","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1470993","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/489"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1470993"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1470993\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1894259"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1470993"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1470993"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1470993"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}