Syllable division derived from spelling — this word is not in the pronouncing dictionary, so no phonetic transcription is shown rather than a guessed one.
item-by-item is an adjective meaning "separate and distinct from others of the same kind". It carries one recorded sense.
separate and distinct from others of the same kind
“mark the individual pages”
“on a case-by-case basis”
Definitions, synonyms and semantic relations for item-by-item come from Princeton University’s WordNet. Commonness is measured against a corpus of everyday English. Full sources and licences.