diff --git a/CHANGELOG.md b/CHANGELOG.md
index 3b396c58..37347c0f 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -5,6 +5,12 @@ All notable changes to PNL will be documented in this file.
 The format is based on [Keep a Changelog](http://keepachangelog.com/en/1.0.0/)
 and this project adheres to [Semantic Versioning](http://semver.org/spec/v2.0.0.html).
 
+## [1.12.0] - 2023-10-25
+
+### Added
+
+- Add local bases (#5)
+
 ## [1.11.0] - 2023-01-17
 
 ### Changed
diff --git a/VERSION b/VERSION
index 1cac385c..0eed1a29 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-1.11.0
+1.12.0