European champions Italy are on a world record 37-game unbeaten streak, but they remain lodged at number five in the FIFA rankings.
The world governing body published its new list on Thursday and the only change in the top five saw England jump to third, nudging France down to fourth.
England were runners-up to Italy in the Euro 2020 final, losing on penalties at Wembley after a 1-1 draw, and two wins and a draw from World Cup qualifiers in September have seen Gareth Southgate's team edge ahead of Les Bleus.
It is the first time since 2012 that England have reached the top three, and third place remains the highest position they have achieved in the rankings.
Didier Deschamps' France could only manage two draws and a win in this month's international break, while Italy were held by Bulgaria and Switzerland before landing a 5-0 victory over Lithuania.
Italy have been a roaring success under the leadership of Roberto Mancini, who inherited a team that failed to qualify for the last World Cup and had plummeted to 21st in FIFA's rankings.
They set the record for the most games unbeaten at international level during their run of September games, staying in control as leaders of World Cup European qualifying Group C.
With FIFA's rankings offering significant weighting to World Cup tournament performance, Italy could make a significant leap should their strong form under coach Mancini continue into the Qatar 2022 finals.
Belgium remain top of the FIFA list, with Brazil in second. Copa America winners Argentina stay sixth.
Dewsbury-Hall: Maresca will surprise people at Chelsea
Kiernan Dewsbury-Hall believes new Chelsea manager Enzo Maresca will "surprise a lot of people" when they watch the Blues this season.
The Italian led Leicester City straight back to the Premier League as Championship winners in his only season in charge and succeeds Mauricio Pochettino at Stamford Bridge.
The Foxes topped the second division table with 98 points, with Dewsbury-Hall a key figure in his squad as he netted 12 goals and provided 14 assists last season – his best tally in a single campaign.
Dewsbury-Hall was also named Leicester's Player and Players' Player of the Year.
The midfielder made the switch to West London earlier this month for £30million and is confident that Maresca will have Chelsea challenging for trophies in no time.
"The manager was a big catalyst in wanting me to come," Dewsbury-Hall told BBC Sport.
"I knew from Leicester, a club that went down and had a lot of problems, how he managed to galvanise that if everyone manages to buy into the system.
"I genuinely think in a short space of time we can be pushing for minimum top four - but more than that.
"He may be unknown for a lot of people, but he is top, top level. He will surprise a lot of people."
Chelsea's pre-season got off to a frustrating start as they were held to a 2-2 draw by League One side Wrexham in Maresca's first game in charge on Wednesday.
Dewsbury-Hall did not play in that match but is training with the squad in the United States and could feature in their next outing against Celtic on Saturday.
The 25-year-old is confident the manager's tactics will come across soon, with the players buying into his style.
"We've only been doing it for two or three weeks, but the combination plays are really quick and tidy," he added.
"That's after two weeks. I remember he said to us at Leicester after six months or a year, there might be teething problems at the start, but it will improve.
"Within the first week at Leicester, I was convinced this was top, top level. I felt a bit stupid; I thought I knew a lot about football, but he was teaching me things on a daily basis that I didn't really know before. He has an aura, he can be strict, or gentle and soft - he has both sides.
"I am getting the same feedback here with the lads. They've bought into it here from minute one which is exciting. With a system and philosophy, you need everyone to buy in because, if they do, you can really achieve something."
“The favourite is Thompson”-Boldon highlights Jamaican champion as man to beat in 100m in Paris
Trinidadian four-time Olympic medallist Ato Boldon has named Jamaican sprinting sensation Kishane Thompson as his favourite to take 100m gold at the Olympic Games in Paris.
Thompson, 23, is currently the world leader in the event after running a personal best 9.77 to win the 100m title at the JAAA/Puma National Senior Championships at the National Stadium in Kingston in June.
The MVP Track Club-trained sprinter also produced times of 9.82 and 9.84 in the heats and semi-finals, respectively, at those national championships and, most recently, ran 9.91 shutting down to win at the Gyulai Istvan Memorial in Hungary on July 9.
“Thompson is the favourite,” Boldon said in an interview with LetsRundotcom on YouTube on Friday.
“I know Noah (Lyles) is the World champion. I think Noah made it a little bit more interesting by running that 9.81 into a headwind which kind of almost converts to a 9.77 but there’s no way you can look at the way in which Thompson ran that 9.77 and just go ‘Oh Noah will beat him.’ Noah has his hands full with that guy,” Boldon said.
Blazing speed acknowledged, one thing that Thompson lacks that his other competitors don’t is experience competing at the highest level of the sport with this being his first time representing Jamaica at any level.
If there is anything to prevent Thompson from delivering on the form that he’s shown so far this season, Boldon believes that would be this lack of experience on a stage like the Olympic Games compared to his peers.
“There are things which I see people completely ignoring. Kishane Thompson has not been under the microscope of Olympic favourite. Rounds are a great equalizer. Noah has the medals that he does because of how well he runs rounds. Is Noah suddenly a lock for the silver? No but he does have his hands full,” he said.
“There are others who are going to be in the 100m that are used to the pressure and pressure is a big thing. If he’s able to pull this off, you write books about stuff like that,” he added.
Thompson's quest for Olympic glory will begin in the heats of the men's 100m beginning on Saturday' August 3.
ECB chief insists no decision made on Mott future
England and Wales Cricket Board chief executive Richard Gould has denied reports a decision has already been made on Matthew Mott's future as white-ball coach.
Mott's future has been called into question in the aftermath of England's failure to defend their T20 World Cup crown in the United States and West Indies, losing to India in the semi-finals.
Mott also oversaw England's calamitous 50-over World Cup campaign last year, as they lost six of their nine matches in India and crashed out in the group stage.
Reports earlier this week suggested the decision had already been made to dispense with Mott's services, with Eoin Morgan a contender to succeed him, though the former limited-overs captain has since said he has no interest in the role.
Asked by BBC Test Match Special if Mott's future had already been decided, Gould said: "That's not true. That's certainly not true.
"Matthew Mott is a really good guy and coach. He's got a great track record and it is the same with [captain] Jos [Buttler].
"We are always assessing options - that is what happens in high-performance sport, you are always assessing your options.
"You never want to be drawn into being given the dreaded vote of confidence or anything like that. Competitive sport always brings scrutiny and decisions.
"We'll constantly want to assess our options but we'll always want to do the right thing by the sport, the team and individuals."
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