The Federal Election Commission announced an increase Thursday in the individual contribution limits for the 2011-2012 election cycle.

Individuals will now be able to contribute $2,500 per candidate, per election to those running for House, Senate and the presidency. That's an increase of $100 from the 2010 cycle. 

The limit on donations to national party committees will also increase from $30,400 during the last election cycle to $30,800 this cycle. 

A full breakdown of the new limits is available on the FEC's website.    

In all, individuals will be able to contribute a combined $117,000 overall to candidates, party committees and political action committees. That's up from $115,500 last cycle.

The limits are raised by the FEC before every election cycle to adjust for inflation.