Definition, Meaning & Synonyms
raise-the-price
phrase
/ˈreɪz ðə praɪs/
Definition
To increase the cost of a product or service.
Examples
- Due to higher raw material costs, the company had to raise the price of its products.
- The decision to raise the price was not popular among customers.
- After assessing the market demand, the restaurant decided to raise the price of its signature dish.
Meaning
When a seller or company decides to charge more for an item, often due to increased costs of production, demand changes, or market conditions.
Synonyms
- increase the cost
- mark up
- hike the price
- elevate the charge
