MOSCOW: Russian President Vladimir Putin on Wednesday sought to reassure the public amid soaring inflation, while announcing hikes to pensions and social benefits.

“From June 1, I plan to increase the pension by 10 percent for non-working retired people,” Putin said at a televised meeting with officials including regional governors.

Since there has already been a similar pension indexation in January, pensions will be going up at a rate “higher than the level of inflation”, he said.

Inflation reached 17.8 percent year-on-year in April, the highest for 20 years.

Putin nevertheless said that “according to experts, the growth in inflation has slowed” and should not exceed 15 percent for the year as a whole.

He also promised that the minimum wage would be raised from June by 10 percent to 15,279 rubles (240 euros at the current exchange rate), while there will be hikes to other benefits, particularly for women in the military with young children.