Chancellor Reeves has announced she is planning "focused measures to deal with cost of living challenges" in next month's financial statement.
In comments to media outlets, she emphasized that curbing price rises is a joint responsibility of both the administration and the Bank of England.
The UK's price growth is projected to be the most elevated among the G7 industrialized countries this calendar year and next.
Reports indicate the government could take action to lower energy bills, for instance by slashing the present 5% level of VAT applied on energy.
An additional option is to cut some of the policy costs currently included in bills.
The administration will receive the next report from the official forecaster, the Office for Budget Responsibility, on the start of the week, which will clarify how much room there is for such measures.
The expectation from the majority of experts is that Reeves will have to introduce tax rises or expenditure reductions in order to adhere to her declared debt limits.
Previously on the same day, calculations indicated there was a £22bn shortfall for the chancellor to resolve, which is at the lower end of expectations.
"It is a joint job between the Bank of England and the administration to continue tackling some of the sources of price increases," Reeves stated to the BBC in the US capital, at the annual meetings of the IMF and World Bank.
While a great deal of the focus has been on expected tax increases, the chancellor said the most recent information from the OBR had not altered her pledge to campaign commitments not to raise tax levels on income tax, VAT or National Insurance.
She attributed an "unpredictable world" with rising international and commercial tensions for the fiscal revenue measures, probably to be targeted on those "most able to pay."
Addressing worries about the UK's commercial links with the Asian nation she said: "The UK's security interests always come first."
Last week's declaration by Chinese authorities to strengthen trade restrictions on critical minerals and other resources that are crucial for advanced tech manufacturing led US President the US President to propose an additional 100% import tax on goods from the Asian country, increasing the prospect of an full-scale trade war between the two global powers.
The US Treasury Secretary described the Chinese decision "commercial pressure" and "a international production power grab."
Asked about considering the American proposal to join its conflict with the Asian nation, the Chancellor said she was "deeply worried" by China's measures and urged the Chinese government "to avoid restrictions and limit trade."
She said the action was "damaging for the global economy and creates further headwinds."
"I believe there are fields where we should challenge Chinese policies, but there are also valuable opportunities to export to Chinese markets, including financial services and other areas of the economy. We've got to maintain that equilibrium right."
The Treasury chief also stated she was collaborating with international partners "regarding our own critical minerals strategy, so that we are reduced dependence."
Reeves also recognized that the price the NHS spends on pharmaceuticals could go up as a consequence of ongoing negotiations with the US government and its drugs companies, in exchange for reduced taxes and capital.
Some of the biggest global drug companies have said in recent statements that they are either pausing or canceling projects in the United Kingdom, with several blaming the low prices they are getting.
Recently, the government science advisor said the cost the NHS pays for medicines would have to increase to halt firms and pharmaceutical investment departing from the UK.
The Chancellor told media: "It has been observed as a result of the payment system, that medical research, innovative medicines have not been offered in the United Kingdom in the extent that they are in other continental states."
"We want to guarantee that patients receiving treatment from the NHS are can obtain the top essential medicines in the world. And so we are reviewing all of that, and... seeking to secure additional funding into the UK."
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