Plugged away at and managed to stabilise prices? (6)

I believe the answer is:

pegged

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'plugged' is the definition.
The answer and definition can be both to do with contact as well as being past participle verbs.
Maybe you can see a link between them that I can't see?

I cannot understand how the rest of the clue works.

Can you help me to learn more?

(Other definitions for pegged that I've seen before include "(Of prices) held level" , "Fixed (price) at particular level" , "Scored (at cribbage)" .)

I've seen this clue in the Evening Standard.

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