Blooming terrible rates! (5)

I believe the answer is:

aster

I'm a little stuck... Click here to teach me more about this clue!

'blooming' is the definition.
Although both the answer and definition are singular nouns, I cannot see how one could define the other.

'terrible rates' is the wordplay.
'terrible' is an anagram indicator.
'rates' anagrammed gives 'ASTER'.

Can you help me to learn more?

(Other definitions for aster that I've seen before include "Tears (anag) - plant" , "Stare oddly at the flower" , "Kind of daisy" , "(Starlike) flower" , "Garden plant" .)

I've seen this clue in the Evening Standard.

Want a hint initially instead of a full solution? Install my app