Do the math for putting components on your bench! Geez that is common sense! Some people here are using powder that was bought years ago, and the same with primers, and even projectiles. So they flaunt costs that do not provide you a valid answer.
Using prices from 12 months ago, I shoot for $2.50 per box of .38spl.
Using today's prices is ridiculous, SINCE I CAN'T GET COMPONENTS except for the lead to melt into bullets. If you are smart about how, when, and how much you buy, you can do MUCH better than the CURRENT cost to reload. Buy when it's cheap. Buy enough to last for 2 or 3 price cycles. Replace what you shoot when the price goes back down to a reasonable level. It's the same thing that I do with toilet paper, canned soup, bulk bags of premium grade Japanese rice, printer/copy paper, or any other non-perishable goods. Unless you are loading out of a studio apartment, buying an 8lb jug of promo (or varget, or whatever) or two and 10k primers isn't much of a storage problem.
If you buy your shooting components the same way you buy fresh lettuce (pay whatever it costs on any given day), yes, you are going to get screwed on price, and you're going to tend to think that people who buy cheap, and shoot what they stockpile are using "artificial" prices in their cost calculation. However, if you have a couple of hundred bucks lying around (and you are willing to cast your own bullets), you can stockpile a year or more worth of ammo/components. For $500, you can set yourself up for three or four years worth of shooting if you shoot a box a week, depending on what caliber you shoot.
Is that artificial? Only if prices never come down at all in order to restock. Could that happen? Very possibly. However, by that time, salary inflation and an increased pay grade will make up the difference, and I can restock with minimal pain. If prices DO come down a bit (as I suspect), I can shrug my shoulders and restock if I need to (I mostly don't, except for primers. I have almost a lifetime supply of everything else).