Meaning of the word rocketing in English

What does rocketing mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

rocketing

US /ˈrɑːkɪtɪŋ/
UK /ˈrɒkɪtɪŋ/

Adjective

increasing very rapidly and suddenly

Example:
The company's profits have been rocketing this quarter.
House prices are rocketing in the city center.