Definition of premium adjective from the Oxford Advanced Learner's Dictionary



BrE BrE//ˈpriːmiəm//
; NAmE NAmE//ˈpriːmiəm//
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[only before noun] very high (and higher than usual); of high quality premium prices/products Word Origin early 17th cent. (in the sense ‘reward, prize’): from Latin praemium ‘booty, reward’, from prae ‘before’ + emere ‘buy, take’.
See the Oxford Advanced American Dictionary entry: premium