sending post request from js to php and update mysql

This is y code. I wanted to send data as JSON format from JS file to php. So php can read and update all prices in once. Is it possible?

<?php 
$mysql = mysqli_connect("localhost","root","","db_prices") or die("Error " . mysqli_error($connection));

$data = file_get_contents("php://input"); 
$jsonData = json_decode($data, true);

foreach($jsonData['prices'] as $key => $value) {
if($value) {

//how to use json array to insert data in Database
    mysqli_query($mysql,"UPDATE prices SET price = '".$value."' WHERE price = '". $key ."' LIMIT 1");
    }
}

?>

This is y code. I wanted to send data as JSON format from JS file to PHP. So PHP can read and update all prices in once. Is it possible?