Getting richer Car factory layoffs PROFITS UP

Food inflation has been in double digits for 11 months in a row and Spain’[s problems are mirrored elsewhere in Europe.

Farmers

For example, Germany’s rate for February was 21.8%

Rising prices have been caused by farmers having to pay more for basic items like seeds, feed, fertilisers, electricity or fuel, but experts believe with those rates now falling, reductions will start to be passed on through the food chain.

FORD has announced 1,100 job losses - 20% of its workforce - at its Almussafes car plant in Valencia.

The news follows last month’s announcement of 3,800 job cuts elsewhere in Europe, including 1,300 posts in the UK.

Last year, Ford said it was delaying production investments in Spain, citing a ‘revised outlook for Europe’, but emphasised that it was moving forward with plans to start producing electric vehicles later this decade at Almussafes.

Production of the S-Max and Galaxy models will cease next month at Almussafes as Ford moves to manufacturing only electric passenger cars by 2030.

It means that only the Kuga SUV will be made at Almussafes until 2025, when the new GE2 electric car starts rolling off production lines.