IPA: /ˈskaɪrɒkɪtɪd/
KK: /ˈskaɪˌrɑːkɪtɪd/
Suddenly and rapidly increased in amount or level.
The prices of houses have skyrocketed in the last year.
To rise or increase very quickly and suddenly.
The price of the stock skyrocketed after the company announced its new product.
Past: skyrocketed
Past Participle: skyrocketed
Skyrocketed → It is formed from "sky" (from Old Norse *ský*, meaning cloud or sky) and "rocket" (from Italian *rocchetta*, meaning a small distaff or spindle, which evolved to mean a projectile). The word "skyrocketed" means to rise rapidly or suddenly, as if propelled into the sky by a rocket.
Imagine something shooting up into the clouds ('sky') like a rocket, which helps you remember that 'skyrocketed' means to rise suddenly and quickly.