diff --git a/CHANGELOG.md b/CHANGELOG.md
index 495ff05..7bf80e4 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -7,6 +7,12 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 
 ## [Unreleased]
 
+## [1.16.1] - 2024-12-18
+
+### Changed
+
+- Aligned retry open telemetry attributes names with latest specification. [#324](https://github.com/microsoft/kiota-dotnet/issues/324)
+
 ## [1.16.0] - 2024-12-13
 
 ### Added
diff --git a/Directory.Build.props b/Directory.Build.props
index dd8db0b..f40df4e 100644
--- a/Directory.Build.props
+++ b/Directory.Build.props
@@ -1,7 +1,7 @@
 <Project>
   <!-- Common default project properties for ALL projects-->
   <PropertyGroup>
-    <VersionPrefix>1.16.0</VersionPrefix>
+    <VersionPrefix>1.16.1</VersionPrefix>
     <VersionSuffix></VersionSuffix>
     <!-- This is overidden in test projects by setting to true-->
     <IsTestProject>false</IsTestProject>