How uncompetitive markets are driving up the cost of living | Andrea Coscelli

Competition is weaker than ever. Without pressure to keep prices down and quality high, all of us will suffer

• Andrea Coscelli is chief executive of the Competition and Markets Authority

At a time when household budgets are already being squeezed, it is more important than ever that companies feel the heat of competition to force them to keep prices down. But across too much of our economy, that isn't happening.

Recent analysis finds that the level to which markets are dominated by a limited number of companies is higher than before the 2008 financial crisis.

Andrea Coscelli is chief executive of the Competition and Markets Authority