Yes for me, has for nearly all of my 38 yrs of marriage. I buy stockpile canned goods and non perishables. When it comes to things like flour and sugar, I put them in a zip lock bag for storage, I rotate my supplies just like they are supposed to in the store, I wait for things to be on sale, then I purchase as much as I can of that item. I do not have a basemen, but I do have a large bedroom closet and the bottom of said closet is filled with canned goods of all sorts.
However, I DO NOT stockpile things like crackers, they will get stale and be of no use to me.
When money gets tight, I do not have to worry about how I am going to feed the family. I do buy ahead on things I can freeze like meat and frozen veggies, but with those they will get freezer burnt if not eaten in a short time. I have a guide in my cook book that tells me how long things are good to freeze, I try to stay well within that range.
I also buy some canned meat product, that way if things get really tight, I still have protien to feed the kids. When they were little, I even purchased dried milk product and kept gallons of water on hand for weather emergencies and such like that, another reason to keep canned food on hand. We live in the midwest and winter can be dicey, keeping some things on hand is a must, not really an option.