The 2012 champions have won all eight of their matches at the Etihad Stadium so far this season, including a 6-3 defeat of Arsenal in their most recent home match.
In-form Liverpool play at City on Thursday bidding to end their hosts' run, with the sublime Suarez aiming to add to his 19-goal tally.
"He is in a very good moment," Pellegrini added.
"He has always been a very good striker. But Liverpool is not only Suarez. They are a very good team, it will be a tough game and we hope we can continue winning at home.
"I repeat we are not playing against Liverpool thinking of Luis Suarez. We are playing against Liverpool thinking we must repeat what we are doing at home."
To some, Liverpool are a surprise package in the title race. Not for Pellegrini.
He added: "Every team has the chance to win the Premier League.
"The Premier League is not only Liverpool and Man City, Tottenham will continue fighting.
"Manchester United, Arsenal and Everton are playing good football and will fight for the title until the end."
The Chilean is unhappy with the festive fixture schedulers for making his team play two games in three days when rivals Arsenal, Liverpool and Chelsea will all have an extra day's rest.
City play Liverpool on Boxing Day and Crystal Palace at home on Saturday, while Liverpool are at Chelsea on Sunday and Arsenal play at Newcastle.
"It's not fair, it should be the same for all teams," Pellegrini said.
"I don't know if the word is ridiculous but playing 46 hours from one game to another is not the best thing for the players - they cannot recover in 46 hours.
"All the teams must have the same rest. Arsenal, Tottenham, Chelsea, Liverpool all of them play after (December) 26 and 29. And we play 26 and 28."
The assumption of a team of City's calibre would be that Palace are dispatched comfortably and changes will be expected.
Pellegrini added: "First of all we have to beat Liverpool, then we see what we will do against Crystal Palace. It's not easy to repeat the same team in 44 hours."