[python] Find the most common element in a list

You probably don't need this anymore, but this is what I did for a similar problem. (It looks longer than it is because of the comments.)

itemList = ['hi', 'hi', 'hello', 'bye']

counter = {}
maxItemCount = 0
for item in itemList:
    try:
        # Referencing this will cause a KeyError exception
        # if it doesn't already exist
        counter[item]
        # ... meaning if we get this far it didn't happen so
        # we'll increment
        counter[item] += 1
    except KeyError:
        # If we got a KeyError we need to create the
        # dictionary key
        counter[item] = 1

    # Keep overwriting maxItemCount with the latest number,
    # if it's higher than the existing itemCount
    if counter[item] > maxItemCount:
        maxItemCount = counter[item]
        mostPopularItem = item

print mostPopularItem