MEXICO CITY, (Reuters) – Jonathan Heath, a Bank of Mexico Board member, cautioned Tuesday against implementing price controls in an effort to combat inflation. He said that the measures are only effective for the short-term.

Heath stated on Twitter that “price controls do not work long-term” and advised to be careful when implementing them (NYSE: ).

Mexico’s government will announce this week a deal with business organizations to lower prices for staple foods like corn, beans and rice. This is in an attempt to reduce inflation.

Grupo Bimbo, a Mexican breadmaker, held preliminary talks to discuss bread prices with the government as part of these efforts.

Heath stated that although the Bank of Mexico doesn’t have power to establish price limits for its members, the government does.

He said, “The central bank is able to give its opinion or offer advice.”

Official data shows that Mexican consumer inflation rose by 7.72% over the past year to the beginning of April. It is at an all-time high of more than 20 years and may prompt further increases in interest rates from the central bank.