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As U.S. inflation hit a new 40-year high Wednesday, Democratic Senate candidate John Fetterman took aim at the "corporate greed" exacerbating the nation's affordability crisis.

"I am going to go to Washington to fight to bring down prices," Fetterman—who is also Pennsylvania's lieutenant governor—said in response to news that the Consumer Price Index (CPI) soared 9.1% over the past year, the largest annual increase since 1981.

"We need bold action NOW to make more shit in America, fix our broken supply chains, and take on corporate greed to bring down the cost of everything, for everyone," he added.

"The price of gas, groceries, and just about everything has skyrocketed," Fetterman noted. "Working families are paying more almost everywhere. I see it every time I go to Aldi's or Giant Eagle. Things are way too expensive and it's hurting people across the commonwealth."

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Fetterman accused his Republican opponent, multimillionaire celebrity doctor Mehmet Oz, of not noticing the "sky-high prices."

"When you own nine homes and have a $48 million dollar mansion, you don't have to worry about the gas or grocery bill," he said. "He probably doesn't even notice if it's more than it used to be. Paying an extra $10, $20, or $30 for gas or groceries means nothing to him. But it matters to the rest of us."

Oz responded to Wednesday's CPI figures in a statement asserting that "Pennsylvanians deserve better than more failed career politicians. It's time for change."

Fetterman's remarks echoed those of progressive activists including Groundwork Collaborative chief economist Rakeen Mabud, who said Wednesday that policymakers must address "rampant corporate profiteering."