Crossword Genius

Celebrate increment, finally, in pay (4)

Ross

I believe the answer is:

fete

'celebrate' is the definition.
('fete' can be a synonym of 'celebrate')

'increment finally in pay' is the wordplay.
'finally' indicates one should take the final letters.
'in' means one lot of letters goes inside another.
'pay' becomes 'fee' (**).
The final letter of 'increment' is 't'.
't' inserted into 'fee' is 'FETE'.

(Other definitions for fete that I've seen before include "Fund-raising function; festival" , "Festival, fiesta" , "Wine and dine" , "Outdoor get-together" , "Holiday festival" .)

I've seen this clue in The Times.
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