intention score for middle-income earners dropped by 10.2 points, its steepest fall in five years, while upper-income households saw an 8.3 point drop, the largest since CHI data collection began in 2018. Among lower-income households earning under $50k, savings behavior remained stable, but intent to use debt increased, suggesting reliance on borrowing to manage expected price increases.

Despite these signs of strain, overall spending intentions remain steady. The CHI's composite spending intent score stayed above neutral at 102.0, with upper-income consumers showing a stronger willingness to spend. Middle-income and lower-income groups recorded scores near neutral, at 100.1 and 98.9, respectively. Brian Stobie, Senior Director in Bain & Company’s Macro Trends Group, emphasized, “Consumers across all income groups are showing signs of destabilization. It looks like this uncertainty will take the form of shifts in saving behavior and use of debt in the near-term as opposed to impact on overall spending.”

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