experts warn we're not out of the woods just yet. what's up with tesla? america's ev giant is due to report sales figures. but there's a lack of optimism on wall street. welcome to world business report. i'm lukwesa burak. we start in the uk, and some news that will put further pressure on the bank of england to cut interest rates sooner rather than later. shop price inflation has eased to its lowest rate since december 2021, coming in at 1.3% in march, down from 2.5% in february. that's according to the latest data from the british retail consortium. the fall has been driven by lower food prices and more competition between supermarkets. here to explain what that all means is harvir dhillon, an economist from the british retail consortium.

great to have you with us, all indications, figures are economically travelling in the right direction, is it sustainable? it will be sustainable over the coming months. we are still expected to see quite a sharp fall in the headline rate of inflation during april when ofgem, energy price regulator, when its price cap comes down. over the current months we should see more easing pressure in terms of inflation. towards the end of the year whether that persists remains open to some uncertainty. haw year whether that persists remains open to some uncertainty.- open to some uncertainty. how is this impacting — open to some uncertainty. how is this impacting us _ open to some uncertainty. how is this impacting us in _ open to some uncertainty. how is this impacting us in the _ open to some uncertainty. how is this impacting us in the pocket? i open to some uncertainty. how is| this impacting us in the pocket? in this impacting us in the pocket? in terms of how it is impacting us, inflation has eased, the lowest since the end of 2021, amazing, but prices still higher than a year ago. if you are a consumer looking at what you are spending on your

supermarket bill for example this year compared to last year, it almost certainly will be slightly higher but at least if we look at the same last month versus february, the same last month versus february, the month before that, you probably will have noticed some easing price pressures there. fire will have noticed some easing price pressures there.— pressures there. are there any particular _ pressures there. are there any particular prices _ pressures there. are there any particular prices that _ pressures there. are there any particular prices that are - pressures there. are there any - particular prices that are remaining stubbornly high? we particular prices that are remaining stubbornly high?— stubbornly high? we have a constituent _ stubbornly high? we have a constituent category - stubbornly high? we have a constituent category in - stubbornly high? we have a constituent category in ourl stubbornly high? we have a - constituent category in our food basket of items called ambient products, typically kept on the she” products, typically kept on the shelf and not refrigerated. chocolate, jam, confectionery, we may have heard on the news that cocoa prices have reached record highs and doubtless in chocolates you can see inflation remaining fairly elevate itself.— you can see inflation remaining fairly elevate itself. quickly, i'm sure ou fairly elevate itself. quickly, i'm sure you watch _ fairly elevate itself. quickly, i'm sure you watch what _ fairly elevate itself. quickly, i'm sure you watch what is - fairly elevate itself. quickly, i'm. sure you watch what is happening with the bank of england, any

feeling from the consortium of interest rates being cut? we are lookin: at interest rates being cut? we are looking at market _ interest rates being cut? we are looking at market expectations, | interest rates being cut? we are - looking at market expectations, june looking at market expectations, june seems to be, a 50—50 split at the moment, we think that is reasonable, possibly could be pushed into the summer depending on inflation data and how it emerges, lots of uncertainty around the economy but we should start to see some cuts around the summertime.- around the summertime. harvir dhillon, british _ around the summertime. harvir dhillon, british retail— around the summertime. harvir i dhillon, british retail consortium. tesla could be facing a bumpy road ahead. america's leading electric car company is due to report how many cars it produced and delivered globally during the first three months of this year, possibly as early as today. and wall street is worried. for more on this, here's the bbc�*s north america business correspondent, michelle fleury, in new york. one analyst called the start of this year a nightmare for tesla as he cut

475 to 425,000 the forecast, the first sales reports and years, the first sales reports and years, the first time that happened was during the pandemic of 2020, what is going on? you will double our company has been beset by setbacks, and halted production, higher interest rates taking a toll and an ageing line—up of vehicles but it is the chinese market that investors are most worried about. it is blamed, ev competition and price war driving prices in that market. stock is down 30% roughly since the start of this yearfor 30% roughly since the start of this year for tesla, 30% roughly since the start of this yearfor tesla, still one 30% roughly since the start of this year for tesla, still one bright spot, poised to retake the title of largest ev maker in the world from chinese maker set which sold on

monday it had sold around 300,000 ev playback during the quarter. —— evs. tech news now, and the united states and britain have announced a new partnership on the science of artificial intelligence safety, amid growing concerns about upcoming next—generation versions. commerce secretary gina raimondo and british technology secretary michelle donelan signed a memorandum of understanding in washington to jointly develop advanced ai model testing, following commitments announced at an ai safety summit in bletchley park in november. here to explain more is tim davies, ceo of ai consultancy, projekt rising. what are the safety concerns? how these models could perform in the future, the development of a new form of intelligence and with any

new intelligence there are risks. these safety tests evaluate whether the models are safe and will perform reliably in the functions they are deemed to work in. these tests are working jointly with the us and the uk to line and make sure there is commonality in the testing approach. next—generation versions, many people are onlyjust catching up with the idea of ai, where are we? we are moving very quickly. the primary model most people are used to experiencing is within chat gpt, 3.5 turbo orfour turbo, to experiencing is within chat gpt, 3.5 turbo or four turbo, they are old by relative standards, 18 months old, new capabilities come on line all the time of a similar level of quality, shortly seeing another significant lifting capability when

openai, anthropic and google released the latest models. owners for governments _ released the latest models. owners for governments to _ released the latest models. owners for governments to get _ released the latest models. owners for governments to get on - released the latest models. owners for governments to get on top - released the latest models. owners for governments to get on top of. for governments to get on top of this, for the uk collaboration with the us, fantastic because the us are at the front of this, how much is al worth of business? why is it key businesses are aware it? i worth of business? why is it key businesses are aware it?- businesses are aware it? i think it's as significant _ businesses are aware it? i think it's as significant as _ businesses are aware it? i think it's as significant as change - businesses are aware it? i think it's as significant as change or l it's as significant as change or die, businesses with al it's as significant as change or die, businesses with ai will outperform those who don't, be able to move faster, deliver higher profit than their competition. tim davies, profit than their competition. tim davies. projekt — profit than their competition. tim davies, projekt rising, pleasure, thank you. today is world autism day. advertising creative director sonny adorian and his wife charlotte were so struck by their autistic son woody's observations about life that they launched a business called

woodism — creating unique art pieces based on his phrases — one liners such as "without you, life would be revolting" and "if you run out of luck, i will give you all of mine". earlier i was joined by both sonny and woody who explained how this came about. when woody was very small he used to say profound little phrases and we thought they were kind of clever and original so we wrote them down and adjust decided one day to make prints and since then we have been creating cards based on the phrases. i can see behind you some of your art, which is what i assume we are talking about here. that is right. so what has the response been like?

it has been amazing. people around the world buy from us, we have been in the museum, woody has won some design awards, we have raised money for ambitions and autism uk, a charity for young people. maybe a relative or friend has charity for young people. maybe a relative orfriend has been diagnosed as autistic, the kind of want to start things off and mark the occasion in a positive way, it has been great. we never set out to start a business, it happened organically kind of. talk start a business, it happened organically kind of.— start a business, it happened organically kind of. talk us through how important _ organically kind of. talk us through how important this _ organically kind of. talk us through how important this is _ organically kind of. talk us through how important this is because - organically kind of. talk us through how important this is because in i how important this is because in terms of autism, what a special skill set it has for so many people and how for those in the workplace it is so critical for many businesses, such an asset. i it is so critical for many businesses, such an asset. i think it is an untapped _ businesses, such an asset. i think it is an untapped asset _ businesses, such an asset. i think it is an untapped asset and - businesses, such an asset. i think| it is an untapped asset and people are starting to talk about it now

and there is obviously challenges involved so i think people who are neuro savers artistic have a different way of thinking —— autistic, in a different way that as neuro typical people can't look at the world. it could be beneficial for businesses and companies if they can harness it. that is what we are trying to show with woodism, ritual and our opinion.— and our opinion. what is media, wood , and our opinion. what is media, woody. your — and our opinion. what is media, woody, your mum _ and our opinion. what is media, woody, your mum and - and our opinion. what is media, woody, your mum and dad - and our opinion. what is media, j woody, your mum and dad have and our opinion. what is media, - woody, your mum and dad have put some of your fantastic phrases out there in such a public way? a, some of your fantastic phrases out there in such a public way?- there in such a public way? a few ears auo there in such a public way? a few years ago i _ there in such a public way? a few years ago i was — there in such a public way? a few years ago i was really _ there in such a public way? a few years ago i was really involved i there in such a public way? a few years ago i was really involved in | years ago i was really involved in it, years ago i was really involved in it. making — years ago i was really involved in it, making little ads on my scrapbooks but i never sold them, i haven't _ scrapbooks but i never sold them, i haven't been that into it the last few years — haven't been that into it the last few years because we moved to australia — few years because we moved to australia and i have in watching afc

and soccer. — australia and i have in watching afc and soccer, but it has been cool, like the — and soccer, but it has been cool, like the business a lot. what made you would — like the business a lot. what made you would rather watch the football. lovely phrases there from woody. let's get some of the day's other news now. shares of donald trump's social media company, trump media, plunged more than 20% on monday. the drop wiped out the gains from its debut last week. it comes after the company disclosed it recorded $58 million in losses last year and admitted it would struggle to meet its financial liabilities going forward. forbes has just revealed its latest world billionaires list, a ranking of the world's richest people. at the top for the second year running, the lvmh boss bernard arnoh, who oversees the luxury french louis vuitton brand.

his net worth�*s understood to have grown 10% to $233 billion. the forbes list includes a record—breaking 2,781 billionaires — more than ever before. shares of chinese smartphone maker xiaomi surged 15% when the hong kong market opened today. it's the first trading day following the company's launch of its new su7 electric car. xiaomi is pricing the su7 at $4,000 less than tesla's model 3, and that is it.

hello from the bbc sport centre. let's start with some breaking cricket news in the last hour or so —

england all—rounder ben stokes has asked to not be considered for selection for this summer's t20 world cup to focus on his fitness. stokes says he wants to use the break to ensure he can be the "all—rounder i want to be" across all formats. he had knee surgery over the winter and bowled just five overs during the recent five—test series in india. the 32—year—old has already opted out of the indian premier league, which began last month. in a statement he said "i'm working hard and focusing on building my bowling fitness back up to fulfil a full role as an all—rounder in all formats of cricket. opting out of the ipl and the world cup will hopefully be a sacrifice that allows me to be the all—rounder i want to be for the foreseeable future." sri lanka are edging to victory against bangladesh in the second test in chattogram. they set a notional target of 511 for the hosts who have at least gone past their own first innings score. four more wickets for the tourists will wrap up a 2—0 series win.

and bangladesh women have lost their t20 series against australia.