New data from Statistics Canada shows that the country's annual inflation rate has decreased to a three-year low of 2.7 per cent in April. This could lead to a possible interest rate cut, benefiting consumers. Food prices, services, and durable goods contributed to the slowdown, with core CPI measures below 3 per cent for the first time. Governor Tiff Macklem stated that the Bank of Canada is looking for a sustained period of cooling before considering lowering lending rates.