The table-topping Citizens made the breakthrough from the spot after half an hour of today's match, although it arrived in controversial fashion as Bernardo Silva went down theatrically under the challenge of Burnley goalkeeper Nick Pope.
Sergio Aguero duly converted the kick to set City on their way to a 3-0 victory, but despite Sean Dyche claiming that Bernardo had exaggerated the contact, Guardiola believes that the referee made the correct decision.
"It's a penalty, I saw it. He touched - the goalkeeper - the right foot of Bernardo," he told reporters.
City are now five points clear at the top of the Premier League table having won a club record-equalling 11 matches in a row across all competitions.