In the modern financial system, the current realization of the Cantillon effect looks quite similar to a regressive tax. The first to benefit are often corporations with plenty of investors, whether publicly traded or financed through private equity. Next, raw goods benefit from increased prices, including already heavily subsidized industries such as steel and aluminum. Technology also benefits, for it is utilized as an intermediate good for many companies. Even within the raw goods and technology sectors, the quickest corporations to turn investments into production—larger corporations like Amazon or Microsoft, which have the infrastructure to expand—benefit disproportionately.
Source: Because of Inflation, We’re Financing the Financiers - Foundation for Economic Education
An old article but more relevant than ever.
While inflationary monetary policies may not have an overall long term economic effect, in the short term it amounts to a tax on the poor or anyone not invested in where all that money is initially spent. Inflationary monetary policies amount to a tax on savings and a decrease in the real earnings of the salaried.