1. increasing very rapidly and dramatically
Usage: often used with prices, costs, or numbers

1. present participle of skyrocket: to increase very rapidly
Usage: gerund form

Examples

• Gas prices are skyrocketing this month.
• The company’s profits showed skyrocketing growth.
• Skyrocketing inflation is affecting everyone’s budget.
• Housing costs have been skyrocketing in major cities.
• The popularity of the app is skyrocketing among teenagers.
• Skyrocketing temperatures broke several records this summer.