WATCH: Pierre Poilievre says Trudeau has put us in ‘great peril’ with unlimited spending

"The Trudeau government has put us in great peril with this inflationary high spending and high-cost government. And now Canadians are paying the price," said the Conservative finance critic following Statistics Canada releases of November inflation numbers.

Poilievre's words, spoken to reporters on Wednesday, build on a statement the shadow minister released on Tuesday, following the delivery of the Fall Fiscal Update by Deputy Prime Minister and Finance Minister Chrystia Freeland.

"Instead of reversing this high-cost, high-inflation agenda, today the government announced yet another $71 billion of inflation spending, costing nearly $5000 for every family in Canada. Worse, they plan to raise taxes on energy, wages and alcohol on January 1st."

"To add insult to injury, the government is profiting off the same inflation that they have inflicted on Canadians, by collecting higher taxes from higher prices."

Freeland said yesterday that moving forward, the federal government would be "mindful of elevated inflation" and its impacts on cost of living.

Polling has shown that cost of living hikes continue to worry Canadians across the country. Nearly 80 percent of Canadians said they were "very" or "somewhat" concerned that inflation will make everyday things less affordable for their families.

Forecasts report that those in a family of four will pay an extra $966 in food in 2022.