Hi ***** Living,
Welcome to PlusSpec! Thanks for your Post.
Yes, using the Price tool you're able to associate price to individual materials or export a full list of all the materials (including ones you've created yourself), get your suppliers to fill in the prices or take the prices from your financial software (PlusDesignBuild will soon do this automatically with Xero) and then import them back into PlusSpec. You're correct, the prices associated with the materials will be retained until you change them.
Unfortunately, there are no live price update features yet, but we have some things brewing behind the scenes for in the future so watch this space
I hope this helps answer your question! Let me know if you have any further questions