Such prices really soak people (5)

I believe the answer is:

steep

I'm a little stuck... Click here to teach me more about this clue!

'soak people' is the definition.
'steep' can be an answer for 'soak' (steeping is a kind of soaking). I am unsure of the 'people' bit.

I cannot understand how the rest of the clue works.

Can you help me to learn more?

(Other definitions for steep that I've seen before include "Rapidly rising" , "Almost perpendicular" , "Quickly rising" , "Soak thoroughly - precipitous" , "Saturate; precipitous" .)

I've seen this clue in the Evening Standard.

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