The UK infant formula market is under investigation after regulators said parents could be saving £500 in their baby's first year.
An initial report in November found the price of formula had risen by 25% over two years.
The Competition and Markets Authority (CMA) said that while prices had fallen a little, they remained "at historically high levels".
Just two companies - Danone and Nestle - control the majority of the market.
The formal investigation means that the regulator can use its legal powers to compel companies to hand over information. Previously, it had to rely on firms providing information voluntarily.
Danone and Nestle jointly have 85% of the UK baby milk market. Between them they produce a range of brands including Cow & Gate, Aptamil and SMA.
Sarah Cardell, chief executive of the CMA, said the regulator was concerned that parents were not being given the information they needed to make informed choices over which milk to buy and that the market wasn't functioning in way to prompt suppliers to offer lower prices.
"We are determined to ensure this market is working well for the many new parents who depend on infant formula," she said.
The investigation could result in recommendations to government to change the way formula is marketed or the information provided to parents.
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2024-02-20 08:45:23Z
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