Pep Guardiola hailed Manchester City's 4-1 Premier League victory against Liverpool as one of the best in his time at the club. 

City thrashed Liverpool on Saturday to, at least temporarily, close the gap on Premier League leaders Arsenal to five points.

Having gone down to an early Mohamed Salah finish, City – shorn of Erling Haaland – levelled before half-time when Julian Alvarez converted Jack Grealish's cross to complete a flowing move. 

City completed the comeback in emphatic style with a commanding second-half performance – goals from Kevin De Bruyne, Ilkay Gundogan and Grealish wrapping up a memorable day at the Etihad Stadium and leaving Guardiola to revel in his side's performance. 

"From minute one to minute 93, it was a perfect performance," Guardiola told BT Sport.  

"Even when we conceded the goal we were playing really well. Of course, there is always a threat they have especially on the transition, but we played really good – one of the best performances in my seven years.

"Even after the goal, we continued with our idea that we had because players know that we weren't playing badly. We stayed in control and continued to keep playing and had a little word at half-time about our process. 

"Of course and we were lucky to score the second goal but the game was always stable through 93 minutes."

City’s win was headlined by a superb display by Grealish, who scored one and set up another. 

"This season is the Jack we knew could help us," Guardiola said of Grealish.

"He tracked back at 1-0 to help us when Salah had the chance to lay off but with the ball, he and Riyad [Mahrez] were exceptional. I can't name one better than the other - they were all exceptional."

An injury to Haaland meant City's top goalscorer was forced to watch from the stands with Alvarez deputising superbly in his absence.

"Not just the goal but the play with the second and the third. With the ball, he is so clever and an exceptional player," Guardiola said. 

"I think the club made an incredible signing for the price. He's playing in the World Cup champions for Argentina alongside Messi for a reason because he has something."

Chelsea's disappointing run of form continued as they were eliminated from the EFL Cup by Manchester City at the third-round stage with a 2-0 loss on Wednesday.

Both sides made seven changes to their line-ups for the heavyweight tussle at the Etihad Stadium and it was Chelsea who looked the brighter during the first half.

But after Christian Pulisic and youngster Lewis Hall spurned promising chances, quick-fire goals early in the second half from Riyad Mahrez and Julian Alvarez put City in control.

City, who introduced Kalvin Phillips for his first appearance since mid-September, saw out the win to mean an early exit for last season's beaten finalists Chelsea.

City were restricted largely to shots from range in a first half edged by Chelsea, who would have been ahead at the interval if not for some good goalkeeping and poor finishing.

Pulisic scuffed a shot at Stefan Ortega from close range and had another effort from further back saved, while the lively Hall was denied at the end of a good run.

Jack Grealish forced Edouard Mendy into a couple of saves early in the second half, shortly after Phillips' introduction, and City's period on top resulted in the breakthrough goal.

Mahrez was fouled by Trevoh Chalobah just outside the box and sent the subsequent free-kick over the Chelsea wall – with Kalidou Koulibaly failing to jump – and past Mendy.

The hosts doubled their lead five minutes later through Alvarez, who tapped in after Mendy could only push Mahrez's shot into the path of the Argentina international.

Ortega produced another fine stop to deny Hall, while Pulisic had a late goal ruled out for offside, but Pep Guardiola felt no need to turn to substitutes Kevin De Bruyne and Erling Haaland.