Dont forget to factor in the price of brass.It's awful close to reloading cheap.
When pricing reloads, one needs to go with replacement costs. Just because you (& I) stocked up on primers at 2.5¢ each (or less), the real value of a primer is closer to about 9¢. That's what it costs to replace it when you burn one.
So, 9¢ primer, 10¢ plated bullet, 4¢ for powder. We're getting real close my friend.
9MM Luger Brass - Small Pistol - Brass Cases
16.15 cents each.