Does ammo ever go bad

I have some of those old boxes that I bought in the early 1990's. I paid $6.95 for them then. I have kept them inside, airtight ammo cans. I shoot them all the time, and have not noticed any problems. Just understand the failure to fire rate is higher on rimfire ammo than on center fire. Even new 22 ammo has failures. The hardest thing on ammo is moisture and extreme temperature changes.