diff --git a/CHANGELOG.md b/CHANGELOG.md
index 88ffaef52ae8..98e35dffbb5e 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -3,6 +3,8 @@
 ## vNext
 ...
 
+## 0.28.1
+- Update inflation parameters
 
 ## 0.28.0
 - Update to Polkadot-JS Apps 0.133.1 and Substrate Node v1.0.0
diff --git a/package.json b/package.json
index dad4623ea1ee..ecb88aed95ff 100644
--- a/package.json
+++ b/package.json
@@ -16,10 +16,10 @@
   },
   "sideEffects": false,
   "type": "module",
-  "version": "0.28.0-cere",
+  "version": "0.28.1-cere",
   "versions": {
-    "git": "0.28.0-cere",
-    "npm": "0.28.0-cere"
+    "git": "0.28.1-cere",
+    "npm": "0.28.1-cere"
   },
   "workspaces": [
     "packages/*"
diff --git a/packages/apps-config/src/api/params/inflation.ts b/packages/apps-config/src/api/params/inflation.ts
index 9bcc187bc2e6..a4db1d9cb62f 100644
--- a/packages/apps-config/src/api/params/inflation.ts
+++ b/packages/apps-config/src/api/params/inflation.ts
@@ -27,7 +27,7 @@ const DEFAULT_PARAMS: InflationParams = {
   stakeTarget: 0.5
 };
 
-const CERE_NETWORK_INFLATION_PARAMS = { ...DEFAULT_PARAMS, maxInflation: 0.05, minInflation: 0.0001, stakeTarget: 0.2 };
+const CERE_NETWORK_INFLATION_PARAMS = { ...DEFAULT_PARAMS, maxInflation: 0.1, minInflation: 0.0002, stakeTarget: 0.2 };
 
 const KNOWN_PARAMS: Record<string, InflationParams> = {
   [CERE_NETWORK_GENESIS]: CERE_NETWORK_INFLATION_PARAMS,