Maurizio Sarri rotated his squad for the second of three games inside six days, but Eden Hazard was retained in the starting lineup and he squandered a good early opening for the Blues when he shot tamely at Rui Patricio when in space at the back post.
Until defeat to Spurs, Chelsea were unbeaten in the league and have won nine of their 15 goals.
While he faded a little after the interval, it seems inconceivable the Chelsea academy product will not be afforded more opportunities in the remainder of the season.
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"Yeah because they've got [Eden] Hazard, they've got Jorginho, they've got talented players", Giggs said when asked if Chelsea can challenge City.
Boss Sarri is less optimistic than Giggs after the Wolves defeat.
Ruben Neves will be absent as he needs to serve a suspension, leaving Nuno Espirito Santo short of arguably his best player.
"After the first [Wolves] goal - that was an accident because we were in full control of the match - we were suddenly another team, without the right distances, without our football". We could have killed the game. "I am really anxious not for the result but for the fact that we didn't react to the first goal of the opponent".
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"There was time for winning the match".
"We train every day as a team and we should expect to play well whoever plays", he said. First team starts this season have largely been in the Europa League and have been hard to come by in the league.
'He's clever on the pitch and in midfield he's one of the best in the world, we all know that. "I want him to stay so I think there's no chance (of him leaving)".
Wolves (4-4-6) comes into the fixture placed 13th in the table with 16 points claimed through 14 matches.
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