According to a report by Jin Ten Data, a survey by the Reserve Bank of New Zealand shows that inflation expectations in the second quarter have risen to the highest point in a year. The two-year inflation expectation increased from 2.06% in the first quarter to 2.29%, which is the time frame for the impact of the Reserve Bank of New Zealand's policies on prices. The inflation target range set by the Reserve Bank of New Zealand is 1% to 3%. Furthermore, a survey of 42 business leaders and professional forecasters indicates that the average year-on-year price increase in New Zealand over the next year is 2.41%, higher than the previous forecast of 2.15%.