diff --git a/CMakeLists.txt b/CMakeLists.txt
index b989fc25b..57b52d5f0 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -45,8 +45,8 @@ set_property(GLOBAL PROPERTY USE_FOLDERS ON)
 # ##################################################################################################
 set(PIKA_VERSION_MAJOR 0)
 set(PIKA_VERSION_MINOR 30)
-set(PIKA_VERSION_PATCH 0)
-set(PIKA_VERSION_DATE 20241108)
+set(PIKA_VERSION_PATCH 1)
+set(PIKA_VERSION_DATE 20241119)
 set(PIKA_VERSION_TAG "-trunk")
 
 set(PIKA_VERSION "${PIKA_VERSION_MAJOR}.${PIKA_VERSION_MINOR}.${PIKA_VERSION_PATCH}")
diff --git a/docs/changelog.md b/docs/changelog.md
index e5e51f357..12db02425 100644
--- a/docs/changelog.md
+++ b/docs/changelog.md
@@ -6,6 +6,16 @@
 
 # Changelog
 
+## 0.30.1 (2024-11-19)
+
+### New features
+
+### Breaking changes
+
+### Bugfixes
+
+- A parameter lifetime issue in `transform_mpi` that affects almost all MPI modes was fixed. ([#1321](https://github.com/pika-org/pika/pull/1321))
+
 ## 0.30.0 (2024-11-08)
 
 ### New features