There are several synonyms for the phrase "raise the price". Some common expressions include "increase the cost", "hike up the price", "elevate the rate", "boost the charge", "escalate the fee", "jack up the value" or "up the ante". Each of these phrases conveys the same meaning and implies that the price is going up. Businesses may use these synonyms to describe changes in pricing for products or services to their customers. While raising the price may seem negative to consumers, businesses often do it to maintain profitability or to cover increases in production costs.