Read the dictionary definition of hike. All definitions for this word.
1. a long walk usually for exercise or pleasure
1. she enjoys a hike in her spare time
2. the amount a salary is increased
1. he got a 3% raise
2. he got a wage hike
3. an increase in cost
1. they asked for a 10% rise in rates
4. walk a long way, as for pleasure or physical exercise
1. We were hiking in Colorado
2. hike the Rockies
5. increase
1. The landlord hiked up the rents
See also:
Merriam-Webster definition of hike