Canada’s inflation rate slowed to 2.7 per cent in June, a drop of 0.2 per cent from the previous month and back to where it was in April.

It’s unclear if the change will be enough to prompt a reduction in the prime lending rate to be set July 24.

The rate in Newfoundland and Labrador fell from 2.6 in May to 2.3 last month. The cost of living in most provinces held steady or dropped. In the St. John’s region, the new rate is 2.8 per cent—down from, 3.2 in May.

The drop nationally was largely due to slower year-over-year growth in gasoline prices. Grocery prices rose 2.1 per cent from a year ago, which was up from May’s 1.5 per cent increase.