Government today expressed confidence to reign in inflation. A number of measures in this direction are expected soon. Speaking to reporters in New Delhi this after noon, Finance Minister Mr Pranab Mukherjee said that the situation has been analysed and steps for further action have been identified.The government is likely to announce today a number of measures to bring down high prices, particularly of food items, following Prime Minister Manmohan Singh's consultations with his senior Cabinet colleagues on Tuesday. The Prime Minister's meeting was followed by Finance Minister Pranab Mukherjee holding discussions with Food and Agriculture Minister Sharad Pawar and Planning Commission Deputy Chairman Montek Singh Ahluwalia on Wednesday. Commodities market regulator, Forward Market Commission's Chairman B C Khatua was also called for consultations. Sources said, the Cabinet Secretariat, in consultation with the Finance and Agriculture ministries, worked on anti-inflationary measures till late Wednesday night. The steps being contemplated may include reduction of duties on milk power, banning exports of wheat products and taking more essential commodities out of the futures market.After the Prime Minister's consultations, the decision of the Agriculture Ministry to export five lakh tonnes of sugar was referred to an empowered group of ministers, headed by Pranab Mukherjee.