My friend is the head of the crafts dept at our local drug store. they sell fabric ( thimbleberries, debbie mumm, etc) and I asked her if she knew about the fabric increase. She goes to the fabric shows and orders from the store as well. She told me that from what she knows it won't go up too much for the store. She said they buy their fabric flat folded and not on the cardboard that the quilt shops (and others) use. Some of the fabric she buys does come on the cardboard, but most is flat folded. She says it is cheaper that way and they can put it on the cardboard themselves. The store sells fabric mostly for $5.99, and some is $8.99. On mondays the cottons are 20% off, on Thurs. the notions are 20%off, and on Friday the flannels are 20% off. tues and wed. are other things (not sewing related). their fabric is quilt shop quality, and they get name brands.
One quilt teacher I had said that if you want to use Walmart fabric, hold it up to the light and look at the weave. If it is loose, don't quilt with it, if it is tight, you can use it.
Bottom line is that the prices may not be too bad in some areas, and we will all have to get creative in finding fabric for our hobby.