price increase
Học thuậtThân thiện
Definition
Noun: A price increase is a rise in the amount of money that must be paid to acquire a good or service. It refers to the upward change in the selling price.
Usage
The term "price increase" is used to describe the event or fact of a price becoming higher. It is commonly discussed in economics, business, and consumer contexts. - It is often modified by adjectives indicating size, frequency, or cause (e.g., sharp, annual, unexpected). - It can be the subject or object of a sentence.
Examples
- The price increase for raw materials forced the company to adjust its budget.
- Consumers protested the sudden price increase on essential medicines.
- A steady price increase over several months indicates inflationary pressure.
Advanced Usage
- "to announce/implement a price increase": To formally declare or put into effect a higher price.
- The airline announced a price increase for all flights next quarter.
- "to absorb a price increase": To bear the cost of a higher price without passing it on to customers.
- The retailer decided to absorb the wholesale price increase to remain competitive.
Variants and Related Words
- Price hike (n): An informal synonym, often implying a sudden or steep increase.
- The price hike in gasoline was widely criticized.
- Inflation (n): A general and sustained increase in the overall price level in an economy, of which individual price increases are a part.
- Surcharge (n): An additional charge or price increase, often added to a standard cost.
Synonyms
- Markup: An increase in the price of a product above its cost.
- Upsurge in price: A rapid or intense rise in price.
Antonyms
- Price cut: A reduction in price.
- Price decrease: A decline in the amount of money that must be paid.
- Discount: A deduction from the usual cost.
Related Phrases
- "to pass on a price increase": To transfer the burden of a higher cost to the next buyer or consumer.
- The manufacturer passed on the price increase to distributors.
- "across-the-board price increase": A price rise applied to all items in a category or range.
- The supplier announced an across-the-board price increase of 5%.