New to Python, How does this lambda expression works?

[Joshh_33]

Hi,

I would like to arrange the tuple in ascending order according to the price.
The first one,("Product1") is the name of the product,
while the second one, (10) is the price of the product.

It works perfectly when I type 1 there.

items = [
    ("Product1", 10),
    ("Product2", 9),
    ("Product3", 12),
]


items.sort(key=lambda item: item[1])
print(items)

The output would be like this.

Output:
[('Product2', 9), 
('Product1', 10), 
('Product3', 12)]

However, when I changed the item[1] to item[2], it shows error.

items = [
    ("Product1", 10),
    ("Product2", 9),
    ("Product3", 12),
]


items.sort(key=lambda item: item[2])
print(items)

Error:
Traceback (most recent call last):
  File "d:\.Coding Files\Python\HelloWorld\app.py", line 15, in <module>
    items.sort(key=lambda item: item[2])
  File "d:\.Coding Files\Python\HelloWorld\app.py", line 15, in <lambda>
    items.sort(key=lambda item: item[2])
IndexError: tuple index out of range

Can someone explain how it works?
Some help would be much appreciated!