diff --git a/configure.ac b/configure.ac
index f9aface629..b51a529bd2 100644
--- a/configure.ac
+++ b/configure.ac
@@ -3,7 +3,7 @@ dnl
 dnl SEE RELEASE.md FOR INSTRUCTIONS ON HOW TO DO A RELEASE.
 dnl
 m4_define([year_version], [2023])
-m4_define([release_version], [4])
+m4_define([release_version], [5])
 m4_define([package_version], [year_version.release_version])
 AC_INIT([rpm-ostree], [package_version], [coreos@lists.fedoraproject.org])
 AC_CONFIG_HEADER([config.h])
diff --git a/packaging/rpm-ostree.spec.in b/packaging/rpm-ostree.spec.in
index da7d166a6f..67d2793762 100644
--- a/packaging/rpm-ostree.spec.in
+++ b/packaging/rpm-ostree.spec.in
@@ -3,7 +3,7 @@
 
 Summary: Hybrid image/package system
 Name: rpm-ostree
-Version: 2023.4
+Version: 2023.5
 Release: 1%{?dist}
 License: LGPL-2.0-or-later
 URL: https://github.com/coreos/rpm-ostree