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Going rate Meaning in English

expression

ˈɡoʊɪn/, /ˈɡoʊɪŋ/ /ˈɹeɪt
GOH-in RAYT
ɡˈəʊɪŋ/ /ɹˈeɪt
GOH-ing RAYT

Definition

The usual or average price or payment for something at the present time.

Usage & Nuances

Informal and mostly used in business, jobs, or when comparing prices. Commonly preceded by 'the' ('the going rate'). Refers to what is typical right now, not a fixed price. Don't confuse with 'interest rate' (financial term).

Example Sentences

The going rate for babysitting is $15 an hour.

basic

What is the going rate for a taxi to the airport?

basic

They paid the going rate for the apartment.

basic

That’s the going rate—take it or leave it.

natural

She got paid more than the going rate because of her experience.

natural

You can try to negotiate, but that’s pretty much the going rate right now.

natural