You can now launch the t2.nano,the newest Amazon EC2 burstable-performance instance. Starting at only $4.75 per month ($0.0065 per hour), it is the lowest priced Amazon EC2 instance. The t2.nano features 512 MiB of memory and 1 vCPU, and making it well suited for workloads that require a consistent baseline performance with the ability to burst. T2 instances are backed by the latest Intel Xeon processors with clock speeds up to 3.3 GHz.
Source: amazon.com