Chopped peach not expensive (5)
I believe the answer is:
cheap
'not expensive' is the definition.
('cheap' is the opposite to 'expensive')
'chopped peach' is the wordplay.
'chopped' indicates anagramming the letters (letters chopped or smashed up).
'peach' with letters rearranged gives 'CHEAP'.
(Other definitions for cheap that I've seen before include "Tawdry - inexpensive" , "not doing much damage" , "A snip" , "good value" , "Contemptible" .)