informal)
■ noun [C] (especially AmE)
a large or sudden increase in prices, costs, etc:
a 16% hike in profits
Another hike in interest rates has been announced.
a tax/rate/price hike
■ verb [+ obj or no obj] hike sth (up)
to increase prices, taxes, etc. suddenly or by a large amount:
He is not planning to hike interest rates.
They will not hike up prices.
Analysts expected the Bank to hike.