Such prices are apt to rise sharply (5)

I believe the answer is:

steep

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'rise sharply' is the definition.
'steep' can be an answer for 'rise' (thesaurus). I'm unsure of the 'sharply' bit.

I cannot understand how the rest of the clue works.

Can you help me to learn more?

(Other definitions for steep that I've seen before include "Quickly rising" , "Soak thoroughly - precipitous" , "not reasonable" , "Precipitous - outrageous" , "Without the bounds of moderation" .)

I've seen this clue in the Evening Standard.

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