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"increasing disparity" is correct and usable in written English.
You can use it to describe a widening gap between different groups such as in regards to income, education, or other resources. For example: "The increasing disparity between the rich and poor has created a stark divide in society."
Exact(55)
We have an increasingly authoritarian government and an increasing disparity of wealth.
The increasing disparity between rich and poor was high on his list.
Index Ventures is raising funds at a time of increasing disparity in the venture capital market.
Producing more such vehicles and fewer very small or very large vehicles would reduce the increasing disparity among American vehicles, both in weight and how high they ride.
Over the last few years the wealthy have also had to contend with growing public anger amid the increasing disparity between the richest 1% and everybody else.
"It's no secret that here, we have plenty to say about the increasing disparity in the distribution of wealth in Denmark.
The most striking development in the American economy over the last thirty years is the increasing disparity in income and wealth between the educated and the uneducated, the skilled and the unskilled.
Similar(4)
The roster of contenders has grown narrower and narrower with the increasing disparities in teams' wealth.
"One fundamental issue which Trump did take advantage of was the increasing disparities of income in the United States.
Demographical developments, increasing disparities between rich and poor.
The spatial aspects of resilience become especially important for addressing the increasing disparities in access to goods, services and opportunities across Beijing and Northern China.
More suggestions(15)
increasing divergence
increasing imbalance
increasing mismatch
increasing discrepancy
increasing diversity
increasing variability
increasing distinction
increasing variance
increasing inconsistency
widening disparity
increasing differentials
increasing differential
increasing heterogeneity
widest disparity
increasing deviation
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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