BUENOS AIRES, Jan. 17 (Xinhua) -- Argentina's wholesale prices increased 73.5 percent in 2018, the largest hike recorded in the country in the past 16 years, the National Statistics and Census Institute (INDEC) said Thursday.

The highest increases went to imported products, which saw an increase of 104.8 percent, followed by domestic primary products with an increase of 82.7 percent, manufactured products with 68 percent and electrical power with 54.1 percent, according to the INDEC.

Among domestic primary products, crude oil and gas registered the largest increase of 105.5 percent, while fishery products rose 101.9 percent.

According to analysts, the high inflation in the wholesale sector was caused by a high exchange rate. Last year, Argentina suffered a volatile exchange rate at the end of April and again in August when the U.S. dollar rose sharply.

On Tuesday, the INDEC revealed the index of retail prices for 2018, which reflected an inflation rate of 47.6 percent, also the highest since 1991.