Michigan's cannabis industry is immune to inflation

Inflation is a big issue right now. While the rise in basic prices has leveled off somewhat, the fact remains that most of our basic needs have increased exponentially in recent years.

In fact, prices for pretty much everything have increased 3.4% in the last year alone, up from 3.8% the year before. But there is one industry in Michigan that has not only avoided any increase in inflation, but has bucked the trend and actually gotten cheaper. That industry is cannabis.

Basic groceries are hard to come by at reasonable prices. I went shopping the other day just to stock up for a week and what used to cost me about $50 is now more like $80 or $90. And it's not like I'm buying expensive stuff. I've gone back to my student mindset and bought no-name products and despite my personal opinions on things, I buy the fruits and vegetables with ALL the chemicals in them. No organic blueberries for this guy.

These are tough times for people still living check to check, but for many of us, things are getting easier to cope with because, despite the increased prices of groceries and other goods, marijuana is actually cheaper in Michigan than it was four years ago.

After the pandemic, prices for almost everything have skyrocketed, but Michigan's cannabis industry has plummeted…but in a good way. It's not a national product and therefore immune to national tax laws, and at least American cannabis companies can't be publicly traded. So the price of marijuana is literally a result of local climate and competition.

And in Michigan, the competition is fierce.

What is the current cost of cannabis in Michigan?

In 2020, the price of cannabis was around $419.39 per ounce, which is quite a lot. In fact, it was the third most expensive state to buy marijuana after Illinois and Maine.

But things quickly changed, and today cannabis prices in Michigan are among the lowest in the country, with an ounce costing just $91.71.

Not only is that inflation resistant, it has literally bucked trends and fallen insanely fast while everything else has risen. And we can thank the number of dispensaries and growers in the state for keeping our costs down… plus we don't impose a 50% tax on it like Illinois does.

So if you want to support an industry that doesn't take every penny out of our pockets, the cannabis industry is for you. It's just a shame that the side effects of cannabis only make us hungrier… which means we have to buy even more food.