diff --git a/CHANGES.md b/CHANGES.md
index 170d1e447d..7188f94445 100644
--- a/CHANGES.md
+++ b/CHANGES.md
@@ -1,6 +1,25 @@
+Synapse 1.32.1 (2021-04-21)
+===========================
+
+This release fixes [a regression](https://github.com/matrix-org/synapse/issues/9853)
+in Synapse 1.32.0 that caused connected Prometheus instances to become unstable. If you
+ran Synapse 1.32.0 with Prometheus metrics, first upgrade to Synapse 1.32.1 and follow
+[these instructions](https://github.com/matrix-org/synapse/pull/9854#issuecomment-823472183)
+to clean up any excess writeahead logs.
+
+Bugfixes
+--------
+
+- Fix a regression in Synapse 1.32.0 which caused Synapse to report large numbers of Prometheus time series, potentially overwhelming Prometheus instances. ([\#9854](https://github.com/matrix-org/synapse/issues/9854))
+
+
Synapse 1.32.0 (2021-04-20)
===========================
+**Note:** This release introduces [a regression](https://github.com/matrix-org/synapse/issues/9853)
+that can overwhelm connected Prometheus instances. This issue was not present in
+1.32.0rc1, and is fixed in 1.32.1. See the changelog for 1.32.1 above for more information.
+
**Note:** This release requires Python 3.6+ and Postgres 9.6+ or SQLite 3.22+.
This release removes the deprecated `GET /_synapse/admin/v1/users/<user_id>` admin API. Please use the [v2 API](https://github.com/matrix-org/synapse/blob/develop/docs/admin_api/user_admin_api.rst#query-user-account) instead, which has improved capabilities.
diff --git a/UPGRADE.rst b/UPGRADE.rst
index 7a9b869055..76d2ee394f 100644
--- a/UPGRADE.rst
+++ b/UPGRADE.rst
@@ -88,6 +88,18 @@ for example:
Upgrading to v1.32.0
====================
+Regression causing connected Prometheus instances to become overwhelmed
+-----------------------------------------------------------------------
+
+This release introduces `a regression <https://github.com/matrix-org/synapse/issues/9853>`_
+that can overwhelm connected Prometheus instances. This issue is not present in
+Synapse v1.32.0rc1, and is fixed in Synapse v1.32.1.
+
+If you have been affected, please first upgrade to a more recent Synapse version.
+You then may need to remove excess writeahead logs in order for Prometheus to recover.
+Instructions for doing so are provided
+`here <https://github.com/matrix-org/synapse/pull/9854#issuecomment-823472183>`_.
+
Dropping support for old Python, Postgres and SQLite versions
-------------------------------------------------------------
diff --git a/changelog.d/9854.bugfix b/changelog.d/9854.bugfix
deleted file mode 100644
index e39a3f9915..0000000000
--- a/changelog.d/9854.bugfix
+++ /dev/null
@@ -1 +0,0 @@
-Fix a regression in Synapse 1.32.0 which caused Synapse to report large numbers of Prometheus time series, potentially overwhelming Prometheus instances.
diff --git a/debian/changelog b/debian/changelog
index 83be4497ec..b8cf2cac58 100644
--- a/debian/changelog
+++ b/debian/changelog
@@ -1,3 +1,9 @@
+matrix-synapse-py3 (1.32.1) stable; urgency=medium
+
+ * New synapse release 1.32.1.
+
+ -- Synapse Packaging team <packages@matrix.org> Wed, 21 Apr 2021 14:00:55 +0100
+
matrix-synapse-py3 (1.32.0) stable; urgency=medium
[ Dan Callahan ]
diff --git a/synapse/__init__.py b/synapse/__init__.py
index 7e97f5d995..5bfae24cbd 100644
--- a/synapse/__init__.py
+++ b/synapse/__init__.py
@@ -47,7 +47,7 @@ try:
except ImportError:
pass
-__version__ = "1.32.0"
+__version__ = "1.32.1"
if bool(os.environ.get("SYNAPSE_TEST_PATCH_LOG_CONTEXTS", False)):
# We import here so that we don't have to install a bunch of deps when
|