Fruit went up in price? Hiked initially by smallest amount (7)
I believe the answer is:
rosehip
'fruit' is the definition.
(fruit of a rose plant)
'up in price? hiked initially by smallest amount' is the wordplay.
'up' indicates an anagram (letters get chucked up).
'initially' says to take the initial letters.
'by' is a charade indicator (letters next to each other).
'smallest amount' becomes 'rose' (I am not sure about this - if you are sure you should believe this answer much more).
The initial letters of 'in price hiked' is 'iph'.
'iph' with letters rearranged gives 'hip'.
'hip' after 'rose' is 'ROSEHIP'.
'went' acts as a link.
I am not very happy about this link. It may be part of another bit of the clue.
Can you help me to learn more?
(Other definitions for rosehip that I've seen before include "Wild fruit for syrup" , "Berry for syrup" , "Wayside fruit" , "Fruit of flower used for syrup" , "Hedgerow or garden fruit" .)