If you want to KNOW if it is the IP or not, pull a vacuum on the return port with the input fitting plugged with a finger. If it is NOT leaking air it will hold a good 25" of hg. If not you have a leak it won't hold a vacuum, so jerk the pump for a reseal. You can fart around for weeks trying second order stuff and still not KNOW if it is sucking air. FWIW these leaks are not uncommon, but often quite hard to find since the often don't drip fuel.
Plugging the other port(s) with a clean finger eliminates leaking hoses, clamps, and hose pinchers. If air is leaking by your finger you can feel it.
A Mighty Vac works very well for this.