Reduce sharply, as prices (5)
I believe the answer is:
slash
'reduce sharply as prices' is the definition.
(I've seen this in another clue)
This is all the clue.
(Other definitions for slash that I've seen before include "Greatly reduce (prices)" , "Cut as with a sword - /" , "Reduce (a price) greatly" , "Cut crudely" , "Make sharp, long cut" .)