Even though weighted frequent pattern (WFP) mining is more effective than traditional frequent pattern mining because it can consider different semantic significances (weights) of items, existing WFP algorithms assume that each item has a fixed weight. But in real world scenarios, the weight (price or significance) of an item can vary with time. Reflecting these changes in item weight is necessary in several mining applications, such as retail market data analysis and web click stream analysis. In this paper, we introduce the concept of a dynamic weight for each item, and propose an algorithm, DWFPM (dynamic weighted frequent pattern mining), that makes use of this concept. Our algorithm can address situations where the weight (price or significance) of an item varies dynamically. It exploits a pattern growth mining technique to avoid the level-wise candidate set generation-and-test methodology. Furthermore, it requires only one database scan, so it is eligible for use in stream data mining. An extensive performance analysis shows that our algorithm is efficient and scalable for WFP mining using dynamic weights.