diff --git a/docs/source/release-notes/7.1.1.rst b/docs/source/release-notes/7.1.1.rst
new file mode 100644
index 00000000..62f2d11c
--- /dev/null
+++ b/docs/source/release-notes/7.1.1.rst
@@ -0,0 +1,15 @@
+7.1.1 -- 2024-08-04
+-------------------
+
+You can view the `7.1.1 milestone`_ on GitHub for more details.
+
+Bugs Fixed
+~~~~~~~~~~
+
+- Properly preserve escaped `{` and `}` in fstrings in logical lines in 3.12+.
+  (See also :issue:`1948`, :pull:`1949`).
+
+
+.. all links
+.. _7.1.1 milestone:
+    https://github.com/PyCQA/flake8/milestone/51
diff --git a/docs/source/release-notes/index.rst b/docs/source/release-notes/index.rst
index 4ae650a3..9bf8646d 100644
--- a/docs/source/release-notes/index.rst
+++ b/docs/source/release-notes/index.rst
@@ -11,6 +11,7 @@ with the newest releases first.
 .. toctree::
    7.0.0
    7.1.0
+   7.1.1
 
 6.x Release Series
 ==================
diff --git a/src/flake8/__init__.py b/src/flake8/__init__.py
index 19df0599..101eafe7 100644
--- a/src/flake8/__init__.py
+++ b/src/flake8/__init__.py
@@ -17,7 +17,7 @@
 LOG = logging.getLogger(__name__)
 LOG.addHandler(logging.NullHandler())
 
-__version__ = "7.1.0"
+__version__ = "7.1.1"
 __version_info__ = tuple(int(i) for i in __version__.split(".") if i.isdigit())
 
 _VERBOSITY_TO_LOG_LEVEL = {