To jack up is to lift a vehicle so a wheel can be changed. Jack up the car, jacked up on blocks, jack it up carefully.
Never get under a car you only jack up, since axle stands exist because jacks fail. The figurative sense, to jack up prices, is American and dates from 1904.
1phrasejack upTo lift a vehicle so a wheel can be changed.
“We had to jack up the car at the side of the road to change the flat tyre.”
jack up is a lifting.
From the noun jack, a lifting device, with the price sense recorded from 1904.
Built from
Sense of “hoist with a jack” is from 1885; then, “increase prices, etc.” (1904, American English); both ultimately from noun jack* (“mechanical device used to raise heavy objects”)
Etymology from Wiktionary, CC BY-SA