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The phrase 'are going up' is correct and usable in written English.
You can use it to describe how a quantity, rate, or measure is increasing. For example: "The prices for this product are going up."
Exact(60)
"Fares are going up.
"Prices are going up.
Fewer buildings are going up.
Rents are going up ridiculously.
Programming costs are going up.
And taxes are going up.
Home prices are going up.
Real yields are going up.
Bills are going up.
Dreams are going up.
They are going up".
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com