There was a sharp rise in prices-There was a distinctive rise in prices Is it correct?
Distinctive could potentially mean the price rise took any sort of recognized pattern (possibly indicative of some phenomena). Not just a sharp one. A scientist working on Ebola might look for distinctive rises in blood temperature but this does not imply they are large or sudden.
A possible alternative to "sharp" might be "sudden". Or the phrase "distinct rise" is quite common (meaning distinct to the values that were present before).