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The phrase 'price competition' is correct and usable in written English.
You could use it when referring to the competition between businesses to offer the lowest prices on their goods and services. For example: "The new supermarket on the corner is offering lower prices than other stores, leading to increased price competition in the area."
Exact(60)
Price competition changes everything".
This leads to brutal price competition.
They've become very sensitive to price competition".
I asked TED why there is so little price competition.
"So there was, in effect, no price competition," he said.
The medical-device industry faces virtually no price competition.
"I don't see how not allowing price competition preserves competition".
Under the bill, price competition would begin in 2010.
Both face stiff price competition from discounters like Wal-Mart.
— Regulators take closer look at real estate price competition.
But price competition has already lowered manufacturing standards.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com