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The common term is simply 'How much is it?' or 'How much is this?'

Best wishes, Clive
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Usually we would either say "what is the price?" or "how much is the item you want to buy" -- "how much is the book/ticket/ice cream/shirt/etc." "How much is the price" would be understood but is not what most native speakers would say (at least in the U.S. -- it could be different in the U.K.)
'How much is the' stands in for 'what is the price'. So if you say 'how much is the price' you are asking 'what is the price of the price' and not of the object you actually want to buy.

How much is the/that/this book?

What is the price of the/that/this book?
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We can say "What is the price of the ring, etc? But we cannot just "What is the prize?"

We cannot say "How much is the price?" We should say "How much does it cost"?
How much is the price? is kind of like How hot is the temperature? or How far is the distance (to X)? or How big is the size?Emotion: smile

Great analogy, Jim!
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In Canada , you are more likely to hear:
"How much?" and "What's the price?" or variations on "What's/How much does/ it cost?" And quite often a "You paid What", used for both "What a deal" to "Ahh they sure saw you coming"; as in you got ripped off.

What is the price?

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