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/Peo, FreeWebSpace.net
Personally Cheapest doesn't mean better. Cheaper usually means newer company who doesn't know what they are doing, or they just oversell like crazy. Most cheap host providers lack in areas that you need. So please always remember cheaper is not always better.
IMO, the cheapest host in terms of most for your money is http://www.2wdhost.com/ . I've looked, and nobody else provides 1 GB disk space and 11 GB monthly traffic for only $24/year, with exception of all those "300 GB space / 3000 GB traffic" and "unlimited" hosts that don't really allow 300 GB space / 3000 GB traffic per account.
The cheapest will not always be the best value in price depends what your looking for if a temporary website yes but in the long run you have to invest to get the best and foremost reliable.
As above, cheapest isn't good! You'll probably have more trouble with "cheap" in the long run.... Like they go bust, or just delete you without warning.