It is just a one liner
array_multisort( array_column($yourArray, "price"), SORT_ASC, $yourArray );
You can find it here as well: http://php.net/manual/en/function.array-multisort.php
search for “array_column” on that manual page.
UPDATE of Dec 1, 2020:
As @Tyler V. mentioned in his comment this syntax may cause errors in newer PHP 7 versions around “only variables can be passed by reference.” To avoid those you need to change the one liner to a two liner unfortunately:
$col = array_column( $yourArray, "price" );
array_multisort( $col, SORT_ASC, $yourArray );