Definitions from the Web
Rate Increase
Description:
A rate increase refers to an upward adjustment in the cost, price, or value of something. It can indicate an escalation in the amount or rate of change in various contexts, from financial matters to utilities, services, or even interest rates offered by banks.
Sample Sentences:
- The rate increase in housing prices has made it difficult for many people to afford their dream homes.
- After several years of low inflation, the central bank announced a rate increase to control the economy's growth.
- Due to the rising demand for electricity, the local utility company implemented a rate increase for residential users.
- The credit card company informed its customers about an upcoming rate increase, affecting their APRs.
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