diff --git a/NEWS b/NEWS
index d6d9744cb..6cbbb40e6 100644
--- a/NEWS
+++ b/NEWS
@@ -1,3 +1,41 @@
+Overview of changes in GLib 2.54.1
+==================================
+
+* Bugs fixed:
+ 656502 type information for GSettings::backend missing from .gir
+ 722256 gslist: Simplified node removal and got rid of some code duplication
+ 737278 Clarify relationship of g_application_quit() to hold count
+ 738176 Skip GSpawnChildSetupFunc closures in introspection
+ 745723 -Wunused-but-set-variable work-around no longer sufficient
+ 752240 Add DTLS support to GIO
+ 753459 GDateTime: Add conversion functions from/to ISO 8601 strings
+ 753521 g_subprocess_launcher_set_environ misses argument annotations
+ 756009 'const gchar* const *' gets incorrectly defaulted to utf8
+ 756011 Fix up annotations for GBookmarkFile
+ 756103 Skip g_base64_decode_step() in introspection
+ 756128 Fix up annotations in gconvert
+ 756470 Fix up annotations in gdataset.c
+ 756588 Fix up annotations on data/qdata API of GObject
+ 765063 Update annotations for gio
+ 780202 introspection: Don't expose GValueArray.free
+ 781598 gstdio.h should #include what it needs to work
+ 781867 various gvfsd-* wants to look in /boot/efi, causes unnecessary/inappro...
+ 783210 build: Switch to sassc for generating style
+ 783270 Improve Visual Studio support for Meson builds
+ 786737 No g_variant_get() example for dicts
+ 787271 Make GListModel usable from G-I bindings
+ 787485 g_tls_backend_supports_dtls () returns true when the backend doesn't
+ 787551 Factor out some duplicated code in GParamSpec validation
+ 787581 tests: Add tests for g_slist_copy() and g_slist_copy_deep()
+ 787731 g_file_query_filesystem_info() wrongly reports "filesystem::readonly" ...
+ 788138 glib-compile-resources: Fix leak of a GHashTable
+ 788384 gtypes: Fix signedness of __builtin_bswap() usage
+ 788385 gtestutils: Explicitly cast args to g_assertion_message_cmpnum()
+
+* Translation updates:
+ Slovenian
+
+
 Overview of changes in GLib 2.54.0
 ==================================
 
diff --git a/configure.ac b/configure.ac
index 56c831cd2..6fa6eb062 100644
--- a/configure.ac
+++ b/configure.ac
@@ -30,9 +30,9 @@ m4_define(glib_configure_ac)
 # <mclasen> on the unstable (ie master), interface age = 0
 
 m4_define([glib_major_version], [2])
-m4_define([glib_minor_version], [55])
-m4_define([glib_micro_version], [0])
-m4_define([glib_interface_age], [0])
+m4_define([glib_minor_version], [54])
+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],