diff --git a/lib/puppet/version.rb b/lib/puppet/version.rb
index 6d6a072bf58..f2c14a164c3 100644
--- a/lib/puppet/version.rb
+++ b/lib/puppet/version.rb
@@ -6,7 +6,7 @@
 # Raketasks and such to set the version based on the output of `git describe`
 
 module Puppet
-  PUPPETVERSION = '7.32.0'
+  PUPPETVERSION = '7.32.1'
 
   ##
   # version is a public API method intended to always provide a fast and
diff --git a/puppet.gemspec b/puppet.gemspec
index b66707efa95..108663dd065 100644
--- a/puppet.gemspec
+++ b/puppet.gemspec
@@ -1,6 +1,6 @@
 Gem::Specification.new do |spec|
   spec.name = "puppet"
-  spec.version = "7.31.0"
+  spec.version = "7.32.1"
   spec.license = 'Apache-2.0'
 
   spec.required_rubygems_version = Gem::Requirement.new("> 1.3.1")