Goals from Leandro Trossard and Martin Odegaard secured the three points at Molineux to move Arsenal back to the top of the Premier League.
Despite being ravaged by injuries, Wolves put in a great effort and managed to create a few good chances, most notably in the first-half when Joao Gomes got the better of Jakub Kiwior.
Gomes ran into the box and fired a powerful shot at goal but Raya did well to save his effort onto the post, with Ben White eventually getting the ball clear.
At the time the score was 0-0 and without the save, Arsenal could have capitalated to a third straight defeat.
Asked how ‘crucial’ that moment was, Arteta said in his post-match press conference: ‘Very, because we didn’t concede anything up to that point. We had some very open situations that would have changed the game for sure.
‘David was outstanding in that moment to make the save that we needed and then we took advantage.
‘I think he’s been very consistent throughout the whole season. The numbers are proof of that.
‘I think the timing of the first goal was really helpful as well. Really happy.’
Raya has now kept 13 clean sheets in the Premier League this season – four more than any other goalkeeper – helping Arsenal set a new club record of six away league clean sheets in a row.
They are one away from the Premier League record of seven held by Chelsea and Manchester United, while United legend Edwin van der Sar is the only keeper to have a run of seven away clean sheets.
Raya can match that tally when Arsenal travel to arch-rivals Tottenham next Sunday, but before then the Gunners host their other fierce rivals Chelsea on Tuesday.
Discussing this record run, Arteta added: ‘That’s a very difficult thing to do as a team and especially in this league. Big credit to the boys because that gives us a huge platform to win football matches.
‘Now we have another big one, a big London derby against a great team that are in good form, in front of our people. Let’s do it.’
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