bind selected value from another object in p-dropdown

Question

I am using primeNG dropdown

I want to bind the value from another object name demoData's property named label as the selected value in the p-dropdown using [ngModel] after the change event is triggered

When I am trying to do it does not work. It binds the value clicked not the one from the object which I want to achieve.

Stackblitz link : https://stackblitz.com/edit/uwdj8u

Thanks in advance!!