diff --git a/NEWS b/NEWS
index d6d9744cb..d7f492a3d 100644
--- a/NEWS
+++ b/NEWS
@@ -1,3 +1,17 @@
+Overview of changes in GLib 2.54.1
+==================================
+
+* Bugs fixed:
+ 786737 No g_variant_get() example for dicts
+ 787551 Factor out some duplicated code in GParamSpec validation
+ 783270 Improve Visual Studio support for Meson builds
+ 783210 build: Switch to sassc for generating style
+ 781867 various gvfsd-* wants to look in /boot/efi, causes unnecessary/inappro...
+
+* Translation updates:
+ Slovenian
+
+
 Overview of changes in GLib 2.54.0
 ==================================
 
diff --git a/configure.ac b/configure.ac
index f322edfea..6fa6eb062 100644
--- a/configure.ac
+++ b/configure.ac
@@ -31,8 +31,8 @@ m4_define(glib_configure_ac)
 
 m4_define([glib_major_version], [2])
 m4_define([glib_minor_version], [54])
-m4_define([glib_micro_version], [0])
-m4_define([glib_interface_age], [0])
+m4_define([glib_micro_version], [1])
+m4_define([glib_interface_age], [1])
 m4_define([glib_binary_age],
           [m4_eval(100 * glib_minor_version + glib_micro_version)])
 m4_define([glib_version],