Data on the newsstand prices of thirty-eight American magazines are used to investigate the determinants of the frequency of nominal price change. It is found that magazine publishers allow their real prices to erode by as much as one quarter before undertaking a nominal price change. This is strong evidence for monopolistic sticky price models. A fixed effects logistic model is used to analyze the data with the conclusion that higher inflation leads to more frequent price adjustment and that the real cost of price changes decrease either as the size of a real price change decreases, or as the frequency of adjustment increases.