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Yes it is. The key is proper storage. Keep it from moisture and temp extremes. Same for primers and loaded ammo. There was a hooey scare going around last ammo/component shortage/panic where folks were claiming that "the government has mandated the addition of chemicals to render powder and primers useless if not used before a certain date". Horse feathers.
 

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i have been reloading for over 40 yrs have a couple of containers that are that old and still work the same as when new,,as long as they have been stored properly, ie,, damp areas,,no large temperature vatiations,, and in original undamaged containers,, powder should be ok,, open the container and smell it , as long as it doesnt have a bad strong smell as in rancid heavey chemical oder it should be fine, if in doubt, someone at your local gun shop should be able to help.
 

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If a reddish/brown dust rises from the powder when poured, it has begun to deteriorate, so says Lyman #47. This Unique is 30+ years old. Still capped and I hope still good.

 

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I have two containers of pistol powder that is about 10 years old. Lid has always been tightly sealed. Is it still usable?
I shoot plenty of milsurp ammo from ww1 thru vietnam

all goes bang.

havn't found a dud milsurp round EVER.

I HAVE on VERY RARE occasion found a commercial new production dud!
 

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If it is bad you will know it because it will smell like ammonia. Trust me, it won't smell like powder at all. Store it low to the ground where it won't get wet, and where the temp stays consistent and it will be just fine. Also, every time I open my powder to fill the powder measure I smell it so I know how it should smell. Then when I empty the powder measure and put it back in the container I smell it again. TYhat way if it ever goes bad I know what it should smell like.
 

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Just this past summer at an estate sale. Picked up an eight lb. keg of Unique, never opened.
The date stamped on the cardboard container was 1993. The stuff shoots great and the price was right.
 
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