Definitions of hike:

• noun:   a long walk usually for exercise or pleasure
• noun:   an increase in cost
• noun:   the amount a salary is increased

  Example: "He got a wage hike"

• verb:   walk a long way, as for pleasure or physical exercise

  Example: "Hike the Rockies"

• verb:   increase

  Example: "The landlord hiked up the rents"