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In centerfire, about the cheapest you can get is 7.62x39. You can use the less expensive steel-cased Russian stuff for practice and then bump up to the nicer brass-cased domestic ammunition for matches and hunting.
It's not often thought of as being accurate, but that has a lot more to do with the firearms it's generally associated with and with the quality of the lower-priced steel-cased ammo on the market. With good quality ammunition, and out of an accurate rifle it can be remarkably precise.
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