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[Bloomberg Markets]( [FOLLOW US [Facebook Share]]([Twitter Share]( [SUBSCRIBE [Subscribe]](  Forward Guidance  U.K. inflation accelerates, new sanctions on North Korea, and it's Apple's big day. U.K. inflation, Brexit vote Inflation accelerated to [2.9 percent in August](, more than economists had expected, with clothing prices posting their biggest surge in almost three decades. Core inflation also rose, adding to the policy headache facing the Bank the England ahead of Thursday’s [monetary policy meeting](. The U.K. parliament [voted 326 to 290]( to let the prime minister’s Brexit law advance, meaning the government’s strategy for leaving the European Union remains on track. Sanctions The United Nations Security Council approved new sanctions on [North Korea]( after the U.S. dropped demands to impose an oil embargo on the country in order to win support from China and Russia. The measures include reducing gasoline and diesel imports to the country by 56 percent and capping oil supply at current levels, while [banning textile exports](. The Pyongyang regime, which South Korea says remains ready to test anther nuclear device, has yet to respond to the measure. Apple phones Apple Inc. is holding a product event this evening at which it’s expected to launch [three new iPhones](, including the premium, $1,000-plus [iPhone X](. While the iconic product changed the phone market when it was first released some 10 years ago, it has [lost its lead]( on technology to competitors. Markets rally Yesterday’s [record-high close]( in U.S. stocks helped lift equities across the globe. Overnight, the MSCI Asia Pacific Index gained 0.3 percent, while Japan’s Topix index added 0.9 percent as the yen weakened further against the dollar. In Europe, the Stoxx 600 Index was 0.5 percent higher at 5:45 a.m Eastern Time, while S&P 500 futures [climbed 0.1 percent](. 10-year Treasury yields were at 2.151 percent and gold was lower. Oil supply OPEC’s estimate of its oil production is expected to [show a decline in August]( from the previous month after Saudi Arabia pared output, according to a person familiar with the matter. West Texas Intermediate for October delivery was at [$47.84 a barrel]( as of 5:45 a.m. as refiners in the U.S. continue to come back online after the damage suffered from Hurricane Harvey. Here's what you should read today - Three reasons the global rally can [keep going](. - The dollar’s weakness is a [good-news story]( about world growth. - Voice brokers beware: New MiFID rules may [cost you your job](. - How changes to Norway's [$995 billion fund]( could hit debt markets. - Bitcoin diehards are [undeterred by China](. - An Argentine billionaire wants to [list his cows]( in New York. - Cassini hits the [self-destruct button](.  And finally, here’s what Joe’s interested in this morning What does it take to generate inflation? This is a question that central bankers probably thought they had a pretty good handle on prior to the financial crisis, but which has subsequently proven to be quite vexing. [In a recent paper](, Moody's Analytics Senior Economist Adam Ozimek says the answer is more population growth. The connection between population growth and price increases isn't immediately obvious. While it's true that more people equals more demand, it also means a bigger supply of workers, which should theoretically be deflationary. But by looking across different countries and across different U.S. metro areas, Ozimek concludes that the key factor is real estate. The supply of land and housing can't quickly expand to meet growing populations, and the supply doesn't quickly shrink when the population wanes. Thus prices for this crucial part of the economy are quite sensitive to raw numbers of people. This chokepoint then feeds through to general inflation in many different places based on data going back nearly a century. And since the Fed can't print people, this means there's a lot that's out of its control when trying to hit its target. For more on the methodology, check out [my interview with Ozimek here](, as well as the [paper here](.   Before it's here, it's on the Bloomberg Terminal Find out more about how the Terminal delivers information and analysis that financial professionals can't find anywhere else. [Learn more.](   You received this message because you are subscribed to the Bloomberg Markets newsletter.   [Unsubscribe]( | [Bloomberg.com]( | [Contact Us]( Bloomberg L.P. 731 Lexington, New York, NY, 10022