Treasury head Reeves has revealed she is preparing "focused action to deal with household expense challenges" in next month's financial statement.
Speaking to media outlets, she noted that reducing inflation is a joint duty of both the government and the central bank.
The UK's price growth is forecast to be the highest among the Group of Seven developed nations this year and next.
Possible Utility Cost Interventions
It is understood the government could intervene to bring down energy bills, for example by slashing the present 5% level of value-added tax applied on energy.
A further approach is to cut some of the regulatory levies presently added to household expenses.
Fiscal Constraints and Analyst Expectations
The government will receive the next assessment from the independent fiscal watchdog, the OBR, on the start of the week, which will reveal how much scope there is for these actions.
The view from most experts is that the Chancellor will have to announce higher taxes or spending cuts in order to fulfill her declared debt limits.
Earlier on Thursday, analysis suggested there was a £22 billion deficit for the Treasury chief to resolve, which is at the lower end of projections.
"There's a shared responsibility between the central bank and the government to continue tackling some of the drivers of price increases," the Chancellor informed reporters in Washington, at the yearly gatherings of the International Monetary Fund and global financial institution.
Revenue Pledges and International Issues
While a great deal of the focus has been on likely tax increases, the chancellor said the latest information from the OBR had not changed her vow to election pledges not to increase tax levels on income tax, VAT or social security contributions.
She attributed an "unpredictable world" with rising international and commercial concerns for the Budget tax moves, likely to be directed on those "most able to pay."
International Trade Tensions
Addressing concerns about the United Kingdom's economic relations with the Asian nation she said: "Our security interests always are paramount."
Recent announcement by Chinese authorities to strengthen export controls on rare earths and other resources that are crucial for high-technology production led US President Donald Trump to threaten an further 100% tariff on goods from the Asian country, raising the prospect of an full-scale commercial conflict between the two global powers.
The US Treasury Secretary called China's action "commercial pressure" and "a international production control attempt."
Asked about accepting the American proposal to participate in its conflict with the Asian nation, the Chancellor said she was "deeply worried" by China's actions and urged the Chinese government "not to put up barriers and limit trade."
She said the action was "damaging for the world economy and causes additional challenges."
"I believe there are sectors where we should challenge China, but there are also significant opportunities to trade with Chinese markets, including banking sector and other sectors of the economic system. We've got to get that balance appropriate."
The chancellor also affirmed she was cooperating with other major economies "regarding our own critical minerals approach, so that we are reduced dependence."
Health Service Medicine Pricing and Funding
Reeves also recognized that the cost the National Health Service spends on drugs could go up as a result of current discussions with the US government and its pharmaceutical firms, in return for lower tariffs and capital.
Some of the biggest global drug companies have said recently that they are either pausing or scrapping projects in the United Kingdom, with some blaming the modest returns they are getting.
Last month, the government science advisor said the price the NHS pays for medicines would have to rise to prevent businesses and drug research funding departing from the United Kingdom.
The Chancellor informed media: "It has been observed as a result of the payment system, that medical research, recent pharmaceuticals have not been available in the United Kingdom in the extent that they are in other continental states."
"We want to make sure that individuals getting care from the National Health Service are can obtain the best essential treatments in the world. And so we are reviewing this situation, and... looking to secure increased investment into Britain."
