Changes to rack rate are announced for the following year in August. For this year, they've already been announced.
Room prices don't go up based on a discount that is released, but Disney doesn't allow stacking of discounts. If you qualify for both a 40% off room only and
Free Dining, then you must pick between the two. Sometimes Free Dining is the better offer for people, sometimes a room discount is.
During "normal"(august-september) free dining, the room rates are the lowest of the year simply because it's value season. If they offer it for longer again like they did last year, which is unlikely, the room rates will be higher for part of the time, but they're always higher for that part of the year.
This is why going to Disney World during value season is the least expensive option. The room rates are already lower, and better discounts are offered during those time periods.
If you go during what Disney considers a higher traffic time, you pay more, and you reduce your chances of qualifying for a really good discount.