Meaning of the word skyrocket in English

What does skyrocket mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

skyrocket

US /ˈskaɪˌrɑː.kɪt/
UK /ˈskaɪˌrɑː.kɪt/

Verb

1.

to rise extremely quickly or make extremely quick progress toward success:

Example:
Housing prices have skyrocketed in recent months.
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