"I think if Liverpool buy a centre-back, and a good one, in January, I think they'll take some stopping, I really do," Carragher told Punching.TV.
"Defensively, they have injury problems in that position [centre-back], and if they rectify that in January, I think Liverpool would be my favourites.
"But right now I think it's 50/50 between them and Man City because of Liverpool's injuries and the setback of Van Dijk."
"I just don't think there'll be as big a gap between them [Liverpool and City] and the rest as we've seen in the last couple of years," the former centre-back added.
Liverpool have lost Van Dijk and Gomez to long-term injuries while Matip and Fabinho have also served time injured this season.
Despite repeated injury setbacks, Liverpool have looked solid and find themselves only 2 points behind leaders Leicester.
