Liqueur prices let rip (6,3)
I believe the answer is:
triple sec
'liqueur' is the definition.
(triple sec is a kind of liqueur)
'prices let rip' is the wordplay.
'rip' indicates anagramming the letters.
'prices'+'let'='priceslet'
'priceslet' with letters rearranged gives 'TRIPLE SEC'.
(Other definitions for triple sec that I've seen before include "Drink" , "alcohol" , "Strong orange-flavoured liqueur - perils etc (anag)" .)