1.
going up and down; ascent and descent
The physical act of going uphill and downhill, or ascending and descending. Used for slopes, stairs, and roads.
2.
ups and downs; fluctuations
Figurative use referring to fluctuations, variations, or instability in conditions, prices, or emotions.
Usage
上り下り describes both literal vertical movement and figurative fluctuations. The literal sense is common when talking about terrain, stairs, or slopes, while the figurative sense applies to prices, temperatures, and life circumstances.