diff --git a/CHANGELOG.md b/CHANGELOG.md
index 8445e57..485b4ba 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -7,6 +7,13 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 
 This changelog is managed with commitizen tool, don't update it manually.
 
+## v2.1.1 (2024-12-06)
+
+### Fix
+
+- Do not expand environment variables when validating example manifests
+- Disable caching of task status endpoint
+
 ## v2.1.0 (2024-12-05)
 
 ### Feat
diff --git a/idf_component_tools/__version__.py b/idf_component_tools/__version__.py
index d85f396..942427e 100644
--- a/idf_component_tools/__version__.py
+++ b/idf_component_tools/__version__.py
@@ -2,4 +2,4 @@
 # SPDX-License-Identifier: Apache-2.0
 """IDF Component Tools Version"""
 
-__version__ = '2.1.0'
+__version__ = '2.1.1'
diff --git a/pyproject.toml b/pyproject.toml
index 61c860d..b2ef34f 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -10,7 +10,7 @@ include = [
 
 [project]
 name = "idf-component-manager"
-version = "2.1.0"
+version = "2.1.1"
 authors = [
     { name = "Sergei Silnov", email = "sergei.silnov@espressif.com" },
     { name = "Fu Hanxi", email = "fuhanxi@espressif.com" },