Compare and give output

I need help having excel find the lowest output from several items in a column.

example:
Column A Column B
Product X $1.00
Product X $2.00
Product X $3.00
Product Z $5.00
Product Z $4.00

I need it to give me
Product X $1.00
Product Z $4.00

Thanks

Use an array formula like this one:

=MIN(IF($A$1:$A$5="x",$B$1:$B$5)) for x

=MIN(IF($A$1:$A$5="z",$B$1:$B$5)) for z

Keep in mind, both of these are array formulas. You must press CTRL+SHIFT+ENTER after entry

Thanks- How about if I have many products in column A each w/ different values in column B?

Can a formula be written to recognize each change in column A?