Crossword Genius

Festive food cut by a penny, being this? (7)

Ross

I believe the answer is:

cheaper

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'this?' is the definition.
The definition and answer are not the same part of speech.

'festive food cut by a penny' is the wordplay.
'festive food' becomes 'cheer' (I've seen this before. I am not sure about the 'festive' bit.).
'cut by' is an insertion indicator (some letters cut their way into a word).
'penny' becomes 'p' (short for pence).
'a'+'p'='ap'
'cheer' going around 'ap' is 'CHEAPER'.

'being' is the link.

Can you help me to learn more?

(Other definitions for cheaper that I've seen before include "more affordable" , "Less expensive or tasteful" , "Less extravagant" , "Not as dear" , "less in cost" .)

I've seen this clue in The Sun.
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