How to Join datasets

How to Join dict as below

dict1 = [{‘item’: ‘SKU001’, ‘item_name’: ‘T-shirt’, ‘quantity’: 5.0},
{‘item’: ‘SKU003’, ‘item_name’: ‘Book’, ‘quantity’: 5.0},
{‘item’: ‘SKU005’, ‘item_name’: ‘Sneakers’, ‘quantity’: 5.0}]

dict2 =[{‘item’: ‘SKU001’,‘requested_qty’: 10.0}
{‘item’: ‘SKU005’,‘requested_qty’: 22.0}]

Output required
dictnew =[{‘item’: ‘SKU001’, ‘item_name’: ‘T-shirt’, ‘quantity’: 5.0, ‘requested_qty’: 10.0},
{‘item’: ‘SKU003’, ‘item_name’: ‘Book’, ‘quantity’: 5.0},
{‘item’: ‘SKU005’, ‘item_name’: ‘Sneakers’, ‘quantity’: 5.0, ‘requested_qty’: 22.0}]

Convert lists to dictionaries for faster lookup

dict1_lookup = {item[‘item’]: item for item in dict1}
dict2_lookup = {item[‘item’]: item for item in dict2}

Merge dictionaries

result_dict = {}
for key, value in dict1_lookup.items():
result_dict[key] = value
if key in dict2_lookup:
result_dict[key].update(dict2_lookup[key])

Convert result_dict back to a list

dictnew = list(result_dict.values())