Hello and welcome to the Intelligence from the Economist.

From London, I'm your host, Jason Palmer.

And in New York, I'm John Fassman.

Every weekday, we provide a fresh perspective on the events shaping your world.

The inflation-driven cost of living crunch is particularly acute in Britain.

We visit a London food bank to see how the very things that are getting pricier faster

hit the poor disproportionately.

And California's population has grown tenfold over the past century, making it America's

most populous state.

But in recent years, its population has been declining, leading some to wonder if the

days of California dreaming are coming to an end.

The first up though.

Today's victory day celebrations in Moscow haven't been as dramatic as was feared weeks and

months ago.

The anniversary of Russia's defeat of the Nazis during the Second World War has under

President Vladimir Putin become a show of strength.

There were the usual trappings, ceremonial gunfire, a parade, and a speech from Mr.

Putin.

But he didn't announce new fronts in the special military operation in Ukraine.

In these days you are fighting for our people on the Donbass.

It is a mountain for everyone.

And a magnificent trail for the people.

...