There have been countless threads here about selecting the best printer, with Canon models frequently championed over others. The technical press also seem to give Canon their 'best buy' awards more often than any other manufacturer.
The problem with buying the cheapest printers (from any manufacturer) is that they normally use just a single cartridge for all of the colours and its hard to buy 'compatible' replacements for them really cheaply, so my own preference would be to pay slightly more for a printer that uses separate cartridges for each ink colour and then be able to buy my inks fairly cheaply.
I actually use a Canon Pixma MG5350 which use 5 separate ink cartridges. That might sound as if it would be expensive but I can buy a set of all 5 for £6.95, or 4 full sets for £20.00 (so that's just £1 per cartridge!), from my favourite supplier.
That model has now been superseded by the Pixma MG5550 which, for around £50, is an amazingly good printer:
http://www.pcworld.co.uk/gbuk/printers-ink/printers-scanners/all-in-one-printers/canon-pixma-mg5550-all-in-one-wireless-inkjet-printer-21732484-pdt.html#srcid=11026
Compatible inks for it are a bit dearer than for mine (but still only work out at £1.50 per cartridge if you buy 4 sets of 5 for £30.00):
http://www.inkredible.co.uk/canon-pixma-mg5550-ink-cartridges
(I can highly recommend that supplier, both for the quality of their inks and for their excellent fast service).
So its the Canon Pixma MG5550 that I'd be opting for if I had to buy a new printer right now. (The MG3250, which has also been widely praised in the technical press, is a tenner cheaper but you'd quickly lose far more than that when replacing the inks).