Chamakh scored in the first and final minutes of the game.
Wenger said: "He was not sharp against Newcastle and I only played him for an hour after he had been sick for all the previous week.
"I thought he would be sharper tonight. If you look back since the start of season, he has been decisive in many games.
"We went early into the lead and the victory was so important for us tonight that the focus was more on defending and keeping the result safe.
"If you look at the game, we had many chances but I must say you have to give credit to Wolves.
"They are good defensively, they are good at winning the ball back and they always looked dangerous. They will give problems to anyone in this league."