The Gunners host Leicester in what could be a defining moment in the title race this weekend as fellow contenders Manchester City and Tottenham Hotspur also meet at the Etihad Stadium.
Nobody expected the Foxes to be in this position - topping the league with 13 games to go - therefore Ranieri insists the pressure is on their rivals, citing their advantageous financial clout.
“The pressure is on the other teams. Arsenal have big pressure because Arsene spends a lot of money every year. We don't have pressure because we did our job. Our goal is OK - anything more is fantastic,” the Italian explained.
“People want to put pressure on us because at the beginning they said: 'OK Leicester sooner or later will drop go down'. But now some people are thinking Leicester can win.
“It is important to put pressure on them because they spend a lot of money and if they don't win it is a disaster.”
With Sir Alex Ferguson and Jose Mourinho either retired or out of work, the Premier League title race this season has been one of the calmest and most respectful off the pitch in years.
While this may be slightly boring for the media, it has allowed the top teams to have a somewhat stress-free shot at climbing to the top of the table ahead of the business end of the season.
Now, though, Ranieri may have paved the way for the so-called mind-games by insisting a failure to win the title would be a disaster for Arsenal – and for City considering the money they have spent.
The Foxes have the smallest budget of those in contention, and should they win the title ahead of Arsenal, Wenger will no longer have a leg to stand on when criticising the spending power of his rivals.