Price was born in St Peter's Port, Guernsey, in May 1807, the eldest son of Frederick Price. He died in Oxford on 8 January 1888. He went as a private pupil to the Reverend Charles Bradley of High Wycombe, Buckinghamshire, at the age of fourteen, and then to Worecester College, Oxford, where he took a double first in classics and mathematics in 1829. Thomas Arnold was a fellow of Oriel College, Oxford, from 1819 to 1828, and Price was a sometime private pupil at Arnold's home in Laleham, near Staines. When Arnold became head master at Rugby in 1828 he held the mathematics mastership open for Price, who went on to become a master and housemaster at Rugby for twenty years. It was believed that if he had taken orders he might have succeeded as headmaster when Arnold died in 1842.
From The Biographical Dictionary of British Economists in Oxford Reference.