const variable declaration in javaScript

Question

I have learned somewhere that variables declared using const throw error when reassigned. But inside a loop it works just fine.

For example;

for(let i=0; i<allItems.length; i++){
    const item = allItems[i]
    item.innerText = "Yayy"
}

This works fine, and does not throws error, eventhough item is reassigned multiple times. Can someone clarify why this happens.