Say “half the cost” or “cheaper by half”.
If the phrasing makes it clear they're talking about a higher price, then yes that's a good interpretation. You get half as good a deal.
Someone might say "half as cheap" to talk about a price drop by 50%, even though that's not really correct, but such is language.
If the phrasing makes it clear they're talking about a higher price, then yes that's a good interpretation. You get half as good a deal.
Someone might say "half as cheap" to talk about a price drop by 50%, even though that's not really correct, but such is language.