WATCH: Poilievre attacks Trudeau’s RAGING inflation

Under the Liberal government, Canada's inflation has reached 4.4 percent. The Bank of Canada has recently announced that inflation could rise as high as 5 percent over the coming months.

In a clip posted to Twitter, Poilievre said that "inflation is raging out of control, reaching 4.5 percent, it's now reached the highest level in two decades."

Poilievre then detailed how ordinary Canadians are suffering the most. This is due to the fact that housing prices are climbing steeply alongside food, gas, and other essentials.

"This inflation is very good for the billionaire class," said Poilievre. "They've seen their assets inflate in value. But working-class wage earners have seen their paycheques under attack."

Poilievre attacked Trudeau's COVID policies, saying "we didn't have to pay people not to work when there are a million vacant jobs and the economy was fully re-opened."

A few weeks ago, Poilievre labelled Justin Trudeau's new cabinet the most "costliest cabinet ever" in an interview with reporters.

In a stump interview before a Conservative caucus meeting on Parliament Hill, Poilievre said that Trudeau's cabinet appointees will create "more inflation, higher costs for fuel, food and housing."

Under Prime Minister Justin Trudeau, Canada's inflation rate rose to its highest level in 18 years at 4.1 percent. On top of this, the Trudeau government has pledged $78 billion in new spending over the course of the next five years.

This is in addition to the $101 billion that the prime minister has already committed in his previous budget.

Despite this, Trudeau claimed on the campaign trail that when he thinks "about the biggest, most important economic policy this government, if re-elected, would move forward. You’ll forgive me if I don’t think about monetary policy."

After a year in the wilderness, Poilievre was reappointed as the shadow finance critic by O'Toole in a recent reshuffle.