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The phrase "a modest increase in" is correct and usable in written English.
It can be used when discussing a small or moderate rise in a particular quantity or measurement, such as prices, performance, or statistics.
Example: "The report indicated a modest increase in sales over the last quarter."
Alternatives: "a slight rise in" or "a small uptick in".
Exact(60)
Chrysler chose a modest increase in the front overhang.
So a modest increase in deaths could have serious effects.
But there has been a modest increase in lending elsewhere.
There is probably a modest increase in risk while you are pushing yourself.
Even a modest increase in rights fees would likely increase losses.
There was a modest increase in the take-up of other languages.
He said the paper had enjoyed only "a modest increase in advertising".
The obvious answer is at least a modest increase in spending.
Thomson Financial is forecasting a modest increase in merger volume next year.
"Overall, we expect to see a modest increase in UK house prices during 2013".
However, there has been a modest increase in child sex crimes since the law was adopted.
More suggestions(25)
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a slight increase in
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com