The rise in prices is causing consumer anxiety.

Literal

Prices [possessive-の] rise [topic-は] consumers [possessive-の] anxiety [object-を] is-increasing.

物価の上昇 (rise in prices) is the topic. 消費者の不安 (consumer anxiety) is the object. つのらせています is the polite causative progressive of つのる (to intensify/grow) — the price rise is causing anxiety to grow.