QGraphicsTextItem setPlainText memory issue

Continious calling setPlainText in QGraphicsTextItem leading to increase in memory used by the application.

I have an application where i am updating the QGraphicsTextItem continiously at a given time interval using the setPlainText. it can be noticed in Windows Task Manager that the memory used up by the application is increasing rapidly on each setPlainText call.

Sample attached. The memory increase can be observed in the taskmanager.