Just before the 2008 election, and throughout the first half of 2009, ammunition for rifles and pistols was a hot commodity. Folks were convinced that Obama and Holder were coming to get their guns and ammo. Finding .223, 9mm, 5.56NATO, or 7.62 in stores was very difficult - and shipments to the stores were generallly gone within a day. Hucksters at gun shows were charging premium prices for ammo, even if its age and parentage was questionable.
Well, gun control/confiscation hasn't been mentioned very much so far by the Obama Administration. Not that it isn't on their agenda ... it just is down the list from Obamacare, prosecuting anyone associated with George Bush, and ruining our economy for decades to come.
As a result, the run on ammunition has calmed down a bunch. Local stores, seeing the run, upped their orders. Manufacturers ramped up production to meet the demand. Now, the demand has ground to a halt. Lots of folks have more ammo stocked up than they could possibly use, and aren't in the market to buy more. Stores have lots of bullets on the shelves.
I fully expect this to change again. Obama will get around to pursuing gun control in a year or two, and folks will start trying to hoard bullets again.
If you are into shooting sports, it is a good time to go bullet shopping. They are plentiful, prices are reasonable, and if you look carefully, you can find some pretty good sales. One of my favorites is Dick's Sporting Goods - every 6-8 weeks they have a 30% off ammunition sale.
So, if you need a few hundred rounds of NATO standard to pop off at the target range, or a couple of dozen clips' worth of AK-47 rounds to go squirrel hunting with, go for it ... while it's cheap!