Australian households are still under an “unrelenting” cost-of-living squeeze despite Wednesday’s shock inflation figure. Zyft consumer finance expert Joel Gibson said Wednesday’s figures confirmed what Australians already knew – the pressure on households is compounding and relentless. Major bank changes rate callFollowing Wednesday’s inflation data, Westpac became the last of the major four banks to predict rates would be held in August. Camera Icon Australian households still face inflationary pressures, and potential rate hikes, despite a surprise drop in June inflation. Mr Jocum called Wednesday’s figures a turning point in Australia’s battle against inflation.