Something that costs a lot of money; expensive.
From the noun 'price' (from Old French 'pris', meaning 'value') plus the suffix '-y', which turns nouns into adjectives. The suffix became common in English to describe things having a particular quality.
The suffix '-y' is incredibly productive in English—you can attach it to almost any noun to create an adjective. 'Pricey', 'icy', 'messy', and 'dreamy' all follow this same pattern, making English speakers can intuitively understand new adjectives they've never heard before.
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