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Discover LudwigThe phrase "soaring cost" is correct and usable in written English.
It is usually used to refer to a cost that is rapidly increasing. For example: "The soaring cost of college tuition has been a controversial topic in recent years."
Exact(60)
The soaring cost of private rentals has far outstripped salaries.
See BT and the soaring cost of sports rights.
They cite the soaring cost of malpractice insurance.
The soaring cost of competition led Nascar to bar testing among Cup teams in recent years.
Another is the soaring cost of directors' liability insurance (see article).
But taxpayers cannot continue to subsidize the soaring cost of higher education.
Does this not explain, in part, the soaring cost of medical premiums?
The soaring cost of health care is widely seen as a problem for the economy.
Their campaign has emphasized economic issues and the soaring cost of living.
But the most significant factor has been the soaring cost of housing, officials said.
Little has happened due to the soaring cost of development although pilot schemes are planned.
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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