Inflation fears in UK as economic growth soars

By Craig Stirling, Bloomberg columnist The UK economy, Europe's second biggest, grew faster than expected in the third quarter, stoking speculation that the Bank of England needs to raise interest rates more than once to stop inflation. Growth accelerated to an annual 2.8%, the quickest pace in two years, according to the Office for National Statistics. GDP rose 0.7% from the previous quarter, driven by service industries and manufacturing. Economists predicted quarterly growth of 0.6%, the median in a Bloomberg News survey. Rising house prices, record employment and a recovery in manuf...