On Ubuntu 14.04:
$ cat /proc/sys/fs/inotify/max_queued_events
16384
$ cat /proc/sys/fs/inotify/max_user_instances
128
$ cat /proc/sys/fs/inotify/max_user_watches
1048576
Right after computer restart I had 1GB of RAM consumed. After 20-30 minutes (having just 1 terminal opened) I had 6GB RAM used and growing, however none of the processes seemed to be using so much memory (according to htop and top). When I've killed inotifywait process memory was not freed but stopped growing. Then I've restarted PC, killed inotifywait right away and memory usage stopped at 1GB.
I have 2 hard drives, one is 1TB and second is 2TB. Was inotifywait somehow caching those or in general is it normal that it caused such behavior?
This is the Linux disk cache at work, it is not a memory leak in inotifywait or anything else.