A closely watched indicator of inflation posted a week-to-week decline but remained ahead of its one-year average for the 20th consecutive week.
The Journal of Commerce-Economic Cycle Research Institute index registered 126.9319 for the week ended April 19, down from 128.1737 last week.
During the last year, the index has ranged from 114.1709 last June 29 to 129.3570 during the week ended Feb. 8.
The index's growth rate, which compares the latest week's index with its average over the previous 52 weeks, was 7.2344 percent. The growth rate as been in positive territory since Dec. 7.
The index, compiled by the Economic Cycle Research Institute, is based on prices of a broad assortment of raw materials used in industrial production. Since its creation in the mid-1980s the IPI has been a leading indicator of industrial production and inflation rates.