The correct choice is that the statement is true. Amazon S3 Infrequent Access (IA) storage classes offer lower storage costs for data that is accessed less frequently, but require the same milliseconds latency access as Standard S3 when the data is accessed. This contrasts with Amazon S3 Glacier and Glacier Deep Archive, which are designed for archival storage and have retrieval times ranging from minutes to hours. Therefore, S3 IA is cost-effective for infrequently accessed data that still requires quick access.