Peach might be costing little (5)

I believe the answer is:

cheap

I'm a little stuck... Click here to teach me more about this clue!

'costing little' is the definition.
'cheap' can be an answer for 'little' (thesaurus). I am not certain of the 'costing' bit.

'peach might be' is the wordplay.
'might be' indicates an anagram.
'peach' anagrammed gives 'CHEAP'.

Can you help me to learn more?

(Other definitions for cheap that I've seen before include "good value" , "bargain" , "Inexpensive or tasteless" , "Base" , "Of very poor quality" .)

I've seen this clue in The Sun.

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