i Register
In some senses, skyrocket is marked as slang, informal, UK, idiomatic. Watch for register when choosing this word.
noun
A type of firework that uses a solid rocket engine to rise quickly into the sky where it emits a variety of effects such as stars, bangs, crackles, etc.
A rebuke, a scolding.
A pocket.
verb
To rise or increase suddenly and extremely; to shoot up; to surge or spike.
The shortage caused prices to skyrocket.
Athletes' use of herbal supplements has skyrocketed in the past two decades. At the top of the list of popular herbs are echinacea and ginseng, whereas garlic, St. John's wort, soybean, ephedra and others are also surging in popularity or have been historically prevalent.
To cause to increase suddenly and extremely.
This is an area you'll have to work out in precise detail, as it's the area most likely to skyrocket your costs—or, without careful planning, leave you with thirsty guests.