In 2008, the price of Spam was up by an estimated 7% compared to the previous year. During that period, a 12-ounce can cost about $2.62. Nowadays, you can get it from $2-$7, an enormous increase from the 1940s and 50s when you could get Spam for a few cents. While inflation plays a significant role in the price's rise, other factors that we stated earlier play a part in why Spam is so expensive.