Chancellor Reeves has announced she is preparing "specific measures to address cost of living issues" in next month's financial statement.
During an interview with media outlets, she emphasized that curbing inflation is a shared duty of both the government and the central bank.
The United Kingdom's price growth is forecast to be the highest among the G7 developed nations this year and next.
Possible Utility Bill Measures
It is understood the government could take action to lower energy bills, such as by reducing the current 5% level of VAT charged on energy supplies.
Another possibility is to lower some of the government charges currently added to household expenses.
Fiscal Constraints and Expert Predictions
The administration will obtain the next draft from the official forecaster, the OBR, on Monday, which will show how much scope there is for such actions.
The expectation from most economists is that the Chancellor will have to declare higher taxes or spending cuts in order to meet her declared debt limits.
Earlier on Thursday, estimates suggested there was a £22 billion gap for the Treasury chief to address, which is at the lower end of projections.
"There's a shared job between the Bank of England and the government to continue tackling some of the sources of price increases," Reeves informed the BBC in the US capital, at the annual meetings of the IMF and World Bank.
Revenue Commitments and Global Concerns
While much of the focus has been on likely tax rises, the Treasury chief said the latest information from the OBR had not altered her pledge to election pledges not to raise tax levels on income tax, sales tax or National Insurance.
She attributed an "uncertain world" with rising geopolitical and commercial issues for the fiscal revenue measures, likely to be directed on those "most able to pay."
Global Trade Disputes
Commenting on worries about the UK's trade ties with the Asian nation she said: "The UK's national security always take priority."
Last week's statement by Chinese authorities to strengthen export controls on critical minerals and other materials that are key for high-technology manufacturing led US President Donald Trump to suggest an extra 100% tariff on goods from China, raising the possibility of an full-scale trade war between the two largest economies.
The American finance chief described China's action "economic coercion" and "a global supply chain control attempt."
Inquired about considering the US offer to participate in its battle with China, Reeves said she was "very concerned" by China's actions and urged the Beijing authorities "to avoid restrictions and restrict access."
She said the decision was "bad for the international commerce and creates further challenges."
"I believe there are sectors where we need to confront China, but there are also significant chances to export to China's economy, including financial services and other sectors of the economy. We've got to achieve that equilibrium appropriate."
The Treasury chief also stated she was working with other major economies "regarding our own essential resources plan, so that we are less reliant."
NHS Drug Pricing and Funding
The Chancellor also admitted that the price the National Health Service spends on pharmaceuticals could increase as a result of current talks with the Trump administration and its drugs companies, in return for reduced taxes and funding.
Some of the world's largest drug companies have said in recent statements that they are either delaying or canceling projects in the United Kingdom, with some blaming the low prices they are obtaining.
Last month, the government science advisor said the price the health service spends on drugs would need to rise to halt companies and drug research funding leaving the United Kingdom.
Reeves stated to the BBC: "We have seen due to the pricing regime, that medical research, new drugs have not been offered in the United Kingdom in the way that they are in other continental states."
"We want to make sure that people getting treatment from the National Health Service are able to receive the top essential treatments in the world. And so we are examining all of that, and... aiming to obtain increased investment into the UK."
