Altering the price of products in Magento is an easy task. All you need to do is:
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Login to Magento Admin area.
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Go to Catalog -> Manage Products.
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Find the product for which you would like the price changed and click Edit.
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Select Price from the right-hand menu.
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You will see several fields that will allow you to set product price and also set special price for specific time frame.
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Once ready click the Save button in the upper right corner.
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