The increase was due principally to initial drought and subsequent flooding which adversely affected supplies of locally grown produce, pushing the increase in the food index to 31 per cent (year-on-year). While the trend in food prices is not surprising, the question is whether there is something about the basket or about data collection that aggravates the trend in agricultural prices (both ways).
An important element of discipline should come from the market itself. The adherence to a voluntary code will only come about if firms judge it to be in their interest and take the practical steps to ensure the Code is embedded in their practices. Such practical steps would include training their staff and putting in appropriate policies and procedures.