Meaning of the word "on the one hand however" in English

What does "on the one hand however" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

on the one hand however

US /ɒn ðə wʌn hænd haʊˈɛvər/
UK /ɒn ðə wʌn hænd haʊˈɛvər/

Phrase

used to introduce a statement that is contrasted with a previous statement

Example:
On the one hand, however, the cost of living is rising.
I like the design; on the one hand, however, it's quite expensive.