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The phrase "modest increase" is correct and usable in written English.
It can be used to describe a small or moderate growth or rise in something, such as a price, quantity, or percentage. Example: "The company reported a modest increase in profits this quarter, thanks to their new marketing strategy."
Exact(58)
Average Modest increase in vote share.
Chrysler chose a modest increase in the front overhang.
So a modest increase in deaths could have serious effects.
There has only been a modest increase so far.
But there has been a modest increase in lending elsewhere.
New Zealand offered "a modest increase" to support a civil provincial reconstruction team.
But the modest increase may have reflected higher prices rather than more demand.
The net result was a positive, but quite modest, increase in overall savings.
Even a modest increase in rights fees would likely increase losses.
At most, he said, there would be only a modest increase in usage.
There was a modest increase in the take-up of other languages.
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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