skyrocket
verb [ I ]
uk/ˈskaɪˌrɒkɪt/ us/-ˌrɑːkɪt/to rise or become successful extremely quickly:
Home values are skyrocketing.
skyrocket to sth San Diego electricity prices skyrocketed to 20¢ per kilowatt hour.
skyrocketing
adjective [ before noun ]
Borrowers now face skyrocketing payments.