to walk for a long distance, especially in the countryside; to increase sharply
origin uncertain, possibly from dialectal English 'hyke' meaning 'to walk vigorously'
The word 'hike' meaning 'to walk' is actually pretty recent - it only appeared in American English around 1809! The meaning 'to increase' (like hiking prices) came later, probably from the idea of lifting something up.
Complete word intelligence in one call. Free tier — 50 lookups/day.