diff --git a/setup.cfg b/setup.cfg
index 87395a15f..cf94ddad1 100644
--- a/setup.cfg
+++ b/setup.cfg
@@ -1,5 +1,5 @@
 [bumpversion]
-current_version = 0.38.0
+current_version = 0.38.1
 commit = True
 tag = True
 
diff --git a/setup.py b/setup.py
index f3225ea5f..c2b0d3d21 100644
--- a/setup.py
+++ b/setup.py
@@ -8,7 +8,7 @@ def read(fname):
 
 setup(
     name='annif',
-    version='0.38.0',
+    version='0.38.1',
     url='https://github.com/NatLibFi/Annif',
     author='Osma Suominen',
     author_email='osma.suominen@helsinki.fi',