Material increase reported (5)
I believe the answer is:
serge
'material' is the definition.
(serge is a kind of material)
'increase reported' is the wordplay.
'increase' becomes 'surge' (surge is a kind of increase).
'reported' indicates a 'sounds like' (homophone) clue.
'surge' sounds like 'SERGE'.
(Other definitions for serge that I've seen before include "Strong twilled worsted fabric" , "Material to suit" , "Frenchman" , "Twilled woollen fabric" , "Twilled fabric; name" .)