lowering of costs
noun phraseUK /ˈləʊərɪŋ əv kɒsts/
US /ˈloʊərɪŋ əv kɔsts/
When something costs less money than before.
The lowering of costs helped the family save money on their trip.
OTHER MEANINGS
2. Making a business spend less money on things it needs.
The lowering of costs let the bakery hire one more worker.
3. A drop in the price of goods or services.
Shoppers were happy about the lowering of costs at the grocery store.
4. Cutting down on waste or extra spending.
The lowering of costs came from turning off lights and using less paper.