Erling Haaland struck four goals for the reigning champions with substitute Julian Alvarez also on the scoresheet late in the second half.
The result moved City to within a point of leaders Arsenal with a game in hand.
With a fortnight of the league season to run, City now have three games left to play, Arsenal two.
And for Pep, the message to his players looking ahead to the finale of what has been a thrilling title race was a simple one.
“The biggest importance is just two weeks left. Three games. Nine points we will be champions,” Pep pointed out.
“Seven points, six points, three points, Arsenal will win the Premier League.
“You see the result 5-1 [today] but I don’t have the feeling that was really good.
“We lost a lot of balls, simple ones. With teams that make high pressing we can run with Phil, Kevin, Julian. I give a lot of credit to Wolves, the patterns they have.
“Hwang, Cunha always is dangerous.”
Play the video to watch Pep’s press conference in full...
