In this paper, we present PRICES, an efficient algorithm for mining association rules, which first identifies all large itemsets and then generates association rules. Our approach reduces large itemset generation time, known to be the most time-consuming step, by scanning the database only once and using logical operations in the process. Experimental results and comparisons with the state of the art algorithm Apriori shows that PRICES very efficient and in some cases up to ten times as fast as Apriori.