the going rate (for something)

the going rate (for something)

The typical cost of something. What's the going rate for a new heating system? Ours is on the fritz. A: "$200 seems pretty steep for such a small repair!" B: "That's the going rate, I'm afraid."See also: going, rate

going rate

the current rate or the current charges for something. The going interest rate for your account is 10 percent. Our babysitter charges us the going rate.See also: going, rate

the ˌgoing ˈrate (for something)

the usual amount of money paid for goods or services at a particular time: They pay slightly more than the going rate for freelance work.See also: going, rate