U.S. producer prices hit a decade high as everything gets more expensive

It is getting more expensive to produce things, which will inevitably be passed down to consumers.

According to the Bureau of Labor Statistics (BLS), U.S. producer prices climbed one percent in March, causing the largest annualized gain in nearly a decade.

In the 12 months through March, the producer price index (PPI) increased 4.2 percent. The market had forecast that the PPI would rise 0.5 percent month-over-month and 3.8 percent year-over-year.

Consumer inflation is an important metric, but producer prices are just as critical.

It is going to get more expensive out there.