The Gunners pushed Manchester City all the way last season, taking the title race right to the final day before being pipped to the post by Pep Guardiola's all-conquering side once again.
Mikel Arteta's side managed to claim victories in 16 of their final 18 games en route to an impressive points total, but Carragher insisted that their lone defeat in that run ultimately shattered their ambitions of silverware.
'Reduced to the simplest terms, had Arsenal beaten Villa once in the Premier League last season they would be champions.' The former Liverpool defender wrote in his column for The Telegraph.
'Their bid effectively ended when they were defeated 2-0 by Unai Emery’s side on April 14, having lost to their ex-manager the previous December.'
Jamie Carragher has insisted Arsenal are approaching a pivotal juncture in the title race
Jamie Carragher has insisted Arsenal are approaching a pivotal juncture in the title race
Mikel Arteta's side enjoyed a strong start to the campaign with a 2-0 win over Wolves last week
Mikel Arteta's side enjoyed a strong start to the campaign with a 2-0 win over Wolves last week
Following a comfortable 2-0 victory over Wolves in their Premier League opener last weekend, on Saturday the club will take on the only team to record back-to-back Premier League wins over last season.
Carragher added that even at such an early point in the campaign, securing a victory could prove massively consequential in Arsenal's bid for the title.
'The title “run-in” effectively started on the opening weekend because any points carelessly dropped before Christmas have the potential to haunt a side in May,' he continued.
'That makes Saturday’s trip to Aston Villa a huge psychological test early on. It sounds ridiculous to suggest Arsenal cannot afford to lose at Villa Park as they did last season – a match they deserved to get at least a draw from.
'It would be daft to lose confidence because of an early setback, if it happened.
'The problem is not so much the repercussions if they drop points at one of the toughest venues, but the weight of history when trying to keep pace with City.
'The champions make it seem like every dropped point is crucial, which means the rest feel under unbearable pressure from the outset.'
Ollie Watkins' late goal sealed victory for the Villans in April, derailing Arsenal's title charge
Ollie Watkins' late goal sealed victory for the Villans in April, derailing Arsenal's title charge
Carragher added that dropping points against Unai Emery's side could have significant repercussions for Arsenal down the line
Carragher added that dropping points against Unai Emery's side could have significant repercussions for Arsenal down the line
Arsenal have continued to look to improve their squad as they prepare for another title charge, having already signed Italian defender Riccardo Calafiori earlier this summer.
On Thursday the club agreed a deal worth £33m to sign Spain international Mikel Merino on a four-year deal from Real Sociedad.
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