diff --git a/NEWS b/NEWS
index 2471833a6..5e66a89a9 100644
--- a/NEWS
+++ b/NEWS
@@ -1,3 +1,17 @@
+3.8.1
+=====
+* Fix crash when getting default font [Bastien; #696814]
+* Fix ungrabbing of keybindings [Rui; #697003]
+* Misc fixes and cleanups [Jasper, Simon; #697758]
+
+Contributors:
+  Jasper Lievisse Adriaanse, Rui Matos, Simon McVittie, Bastien Nocera
+
+Translations:
+  Guillaume Desmottes [fr], Shankar Prasad [kn], Bruce Cowan [en_GB],
+  Andika Triwidada [id], Yaron Shahrabani [he], Kjartan Maraas [nb],
+  Gheyret Kenji [ug]
+
 3.8.0
 =====
 * Address major memory leak when changing backgrounds [Ray; #696157]
diff --git a/configure.ac b/configure.ac
index 85e445493..85164ba62 100644
--- a/configure.ac
+++ b/configure.ac
@@ -2,7 +2,7 @@ AC_PREREQ(2.50)
 
 m4_define([mutter_major_version], [3])
 m4_define([mutter_minor_version], [8])
-m4_define([mutter_micro_version], [0])
+m4_define([mutter_micro_version], [1])
 
 m4_define([mutter_version],
           [mutter_major_version.mutter_minor_version.mutter_micro_version])