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What does extortionate mean?

Looking for the meaning or definition of the word extortionate? Here's what it means.

Adjective
  1. of, related to or typifying extortion
  2. greatly exceeding what is reasonable or moderate; exorbitant
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Examples
There was beer, there was music and there was undercooked greasy food at extortionate prices.
They grievously overstate the costs of bringing new drugs to market in hopes of wringing extortionate payments from desperate patients.
They come along and put in what you would term inferior equipment and charge extortionate prices for it.
We aren't happy, we are overcharging people as it is and after midnight prices are just extortionate.
This means that everyone wanting to purchase a home in Alice Springs is forced to pay an extortionate price.
Rather, he is keen to defend football from the usual allegations that ticket prices are extortionate.

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