python sort dictionary by value in place code example

Example 1: how can I sort a dictionary in python according to its values?

s = {1: 1, 7: 2, 4: 2, 3: 1, 8: 1}
k = dict(sorted(s.items(),key=lambda x:x[0],reverse = True))
print(k)

Example 2: python sort the values in a dictionary

from operator import itemgetter
new_dict = sorted(data.items(), key=itemgetter(1))