This is the 689th most frequent Icelandic word.
lækka
"Lower," "reduce," or "diminish."
Here, "lækka" is used to mean reducing a numerical value, specifically the temperature setting.
Ég þarf að lækka hitastigið í ofninum.
I need to lower the temperature in the oven.
Here, "lækka" indicates a reduction in price, implying a decrease in cost.
Verð á bókunum mun lækka í næstu viku.
The price of books will drop next week.
Here, "lækka" describes the physical lowering of the sun's position, symbolizing shorter daylight hours.