After a difficult start to the season - and change in manager - Inter appear to be back on track and currently lie in fifth. The Nerazzurri are currently eight points behind joint-leaders Juventus and AC Milan, and Conte feels only a fool would count Claudio Ranieri's side out of the championship.
In fact, Conte believes that Inter have the best squad in the division behind AC Milan, but ahead of his own team Juve.
"In my opinion, after AC Milan, Inter are the best-equipped squad in the title race," Conte told Tuttosport.
"They have the best team after Milan. Then there's Juventus and the other teams.
"There's also Udinese in the Scudetto race, and Lazio deserve to be considered as well, regardless of their loss against Siena, and Roma are still there, too."
Juve resume their Serie A campaign on Sunday when they play host to Cagliari.
Italy striker Fabio Quagliarella is likely to miss the match after suffering a fractured cheekbone in his side's recent 1-0 win over Lecce.