Announcing a Price Increase

Good day [recipient], 

In the light of rising production costs, we are sad to let you know that we will be raising the amount we charge for [product].

This is due to the recent hike in the the price of [material], which we use in producing [product]. Believe us when we say that we tried our best to fight for the lowest price we can possibly give you. 

The new price [amount] will take effect starting [date]. We hope that this doesn’t strain our good relationship with you. 

Thank you,

[Signature]

[Name of sender]