It has gone up at our Walmart also. Prices range from $4.45 to $5.45. I did find some very nice 4th of July fabrics for $2.96 and it feels great, soft and silky.
I got some cow print fabric there to make some curtains for my kitchen. It was $4.96 a yard but very nice quality and a good weighty feel to it.
I am so loving that they are now bringing back good quality fabric to Walmart.