Inflation concerns and rising gas prices dominated resilient but deteriorating outlooks among U.S. consumers during the second quarter, according to survey findings published Friday by TransUnion.

About half of the nearly 3,000 U.S. residents age 18 and older polled by the national credit bureau from April 23 to May 11 reported optimism about the state of their household finances, unchanged from year-ago levels.

But the report also flagged declining momentum among higher-income earners who have powered U.S. output through a “K-shaped economy” marked by years of sticky inflation, stubbornly high housing costs and broad economic uncertainty.

Inflation was the primary financial concern for consumers across all demographics, with 50% of respondents saying so compared to 47% a year ago. Spiking gasoline prices stemming from the Iran war which started in late February left 71% of consumers “very concerned” about rising fuel costs, compared to 43% a year ago.

Inflation-concerned respondents were also much less likely to report plans for seeking new credit or refinancing existing credit in the next 12 months. Just 25% of inflation-anxious consumers plan to do so compared to 47% of the overall survey sample.

A pair of government inflation reports published this week showed inflation surged for its third consecutive month in May, driven largely by rising energy costs.

“Affordability has become the defining issue shaping consumer finances today, yet consumers remain remarkably resilient,” said Charlie Wise, head of global research and consulting at TransUnion, in the report. Even as rising prices erode real or inflation-adjusted wage gains, Wise said steady and low unemployment has kept outlooks resilient.

The unemployment rate remained at 4.3% in May, unchanged over the previous two months, signaling that even as the Iran war has roiled global energy markets and household budgets, employers have not resorted to workforce reductions as costs rise.

“Against a backdrop of ongoing pressure from inflation and higher everyday expenses such as filling up their gas tanks or dining out, consumers remain optimistic about their future finances and are less pessimistic than a year ago,” added Wise.

While the number of respondents who reported seeing their incomes rise in the second quarter fell to 27% from 30% one year ago, just 32% of high-income households said their income rose. That’s down from 42% during the second quarter of 2025.

Amid persistent financial pressures, fewer consumers overall reported plans to apply for new credit or refinance existing credit. But while low- and medium-income earners expressed similar credit plans as a year ago, the decline was mostly driven by a 13-percentage-point drop among high-income earners, 31% of whom may pursue credit later this year compared to 44% a year ago.

The report also asked consumers to offer outlooks on artificial intelligence and its rising ubiquity in personal and workplace contexts. Notably, TransUnion observed a decline in the belief that AI will have a positive impact on people’s lives over the long run.

Compared to 32% who think AI will have a negative long-term impact, about 35% of respondents believe AI’s impacts will be positive over the long term, down from 39% a year ago. The share of respondents with negative views rose from 25% a year ago.

Thirty percent of survey respondents said job displacement may be a negative long-term impact of AI, up four percentage points from a year ago. The potential environmental impacts of AI were cited by 18% of consumers, up four percentage points year over year, while the share of respondents citing the potential for improved work productivity fell five points to 19%.