cost increase

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cost increase

The company announced a cost increase for its monthly subscription service.

Definition

Noun An upward change in the amount of money required to pay for something; a rise in price or expense.

Usage

This term is used to describe a situation where the price of goods, services, or the overall expense of an operation goes up. It is a formal or business term often found in economic reports, financial discussions, and negotiations.

Examples
  • The main challenge for the project was the unexpected cost increase in raw materials.
  • Due to inflation, we are seeing a steady cost increase across the entire supply chain.
  • The union's primary demand was to offset the cost increase in living expenses.
Advanced Usage
  • To absorb a cost increase: To pay for the higher costs without passing them on to the customer, often reducing profit margins.
    • The company decided to absorb the cost increase to remain competitive.
  • To trigger/prompt a cost increase: To be the direct cause of prices rising.
    • The new environmental regulations could trigger a significant cost increase for manufacturers.
Variants and Related Words
  • Price increase: A very close synonym, often used interchangeably, though "price increase" more specifically refers to the amount charged to a buyer, while "cost increase" can refer to expenses incurred by a producer or consumer.
  • Rate increase: Often used when referring to the cost of utilities, interest, insurance, or services charged per unit (e.g., per hour, per kilowatt).
  • Hike (noun, informal): A sharp or sudden increase in cost or price.
    • Customers were unhappy about the latest price hike.
Synonyms
  • Rise in cost
  • Price rise
  • Upsurge in expenses
  • Escalation of costs
Antonyms
  • Cost reduction
  • Price cut
  • Decrease in cost
  • Cost saving
Related Phrases
  • To pass on a cost increase: To charge customers more to compensate for higher expenses.
    • The retailer had to pass the cost increase on to consumers.
  • To mitigate a cost increase: To take action to lessen the impact or size of rising costs.
    • The manager proposed several strategies to mitigate the forecasted cost increase.
cost increase

The company announced a cost increase for its monthly subscription service.

Noun
  1. an increase in cost
    • they asked for a 10% rise in rates

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