In the back half of 2022, many companies dazzled investors by reporting unexpectedly strong organic sales growth. However, investors must always remember that organic growth is a function of volume growth plus price increase. In many cases, all of the recently reported organic growth has come from companies increasing prices at historic paces. Volume growth, on the other hand, has vanished, yet many are still touting their growth. We examine how this is impacting Sealed Air (SEE), Conagra (CAG) and Stanley Black & Decker (SWK).