Memcached not saving

I get cached miss everytime.

I have rebooted my localhost. Memcached seems to be configured right. Am I missing something? Bug?

PHP Code:

if ($this->cache->memcached->is_supported())
        {
$data = $this->cache->memcached->get('foo');
if (!$data){
 echo 'cache miss!<br />';
 $data = 'bar';
 $this->cache->memcached->save('foo',$data, 60);
}
echo $data;
echo '<pre>';
var_dump($this->cache->memcached->cache_info());
echo '</pre>';
}