U.S. Import Prices Up 22% In Two Years
Export prices are also increasing at an accelarating rate, mainly due to higher prices of agricultural products, but at a slower rate than import prices.
Another redistributive effect from QE2 is thus from the vast majority of Americans who aren't farmers and are hurt by higher fuel and food prices to the minority of farmers who benefit from higher food prices. Given this fact, and the fact that the federal budget is being cut, this is a good opportunity to end farm subsidies. However, given the strength of the farm lobby, I wouldn't bet on it happening even under the current conducive conditions.