diff --git a/CHANGELOG.md b/CHANGELOG.md
index aa74996084..3aaa7c7c0b 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,3 +1,9 @@
+# v12.1
+
+## Bug fixes
+
+* picom stops rendering correctly after monitor configuration changes (#1338, thanks to @Suyooo)
+
 # v12
 
 ## Bug fixes
diff --git a/meson.build b/meson.build
index 42f01427a9..c1f2ef0cdd 100644
--- a/meson.build
+++ b/meson.build
@@ -1,4 +1,4 @@
-project('picom', 'c', version: '12',
+project('picom', 'c', version: '12.1',
         default_options: ['c_std=c11', 'warning_level=1'])
 
 cc = meson.get_compiler('c')