Cryptic crossword clue
Rise of one penny once in charge for knitwear item 6

The most common and most likely answer to this crossword clue is the 6 letter word CARDIE

I've seen this crossword clue in The Times
C
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I
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The straight part
We know that "knitwear item" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case knitwear item = cardie.
The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.
This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.

What does CARDIE mean?

CARDIE noun
  1. A cardigan.

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