diff --git a/Cargo.lock b/Cargo.lock
index bdf347bdf..aad0979fd 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -1200,7 +1200,7 @@ dependencies = [
  "hex",
  "ink",
  "ink_metadata",
- "itertools 0.12.0",
+ "itertools 0.12.1",
  "pallet-contracts-uapi",
  "parity-scale-codec",
  "predicates",
@@ -1249,7 +1249,7 @@ dependencies = [
  "ink",
  "ink_env",
  "ink_metadata",
- "itertools 0.12.0",
+ "itertools 0.12.1",
  "nom",
  "nom-supreme",
  "parity-scale-codec",
@@ -2541,7 +2541,7 @@ dependencies = [
  "impl-serde",
  "ink_ir",
  "ink_primitives",
- "itertools 0.12.0",
+ "itertools 0.12.1",
  "parity-scale-codec",
  "proc-macro2",
  "quote",
@@ -2603,7 +2603,7 @@ dependencies = [
  "blake2",
  "either",
  "ink_prelude",
- "itertools 0.12.0",
+ "itertools 0.12.1",
  "proc-macro2",
  "quote",
  "syn 2.0.48",
@@ -2760,9 +2760,9 @@ dependencies = [
 
 [[package]]
 name = "itertools"
-version = "0.12.0"
+version = "0.12.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "25db6b064527c5d482d0423354fcd07a89a2dfe07b67892e62411946db7f07b0"
+checksum = "ba291022dbbd398a455acf126c1e341954079855bc60dfdda641363bd6922569"
 dependencies = [
  "either",
 ]
@@ -4793,7 +4793,7 @@ dependencies = [
  "hashbrown 0.14.3",
  "hex",
  "hmac 0.12.1",
- "itertools 0.12.0",
+ "itertools 0.12.1",
  "libm",
  "libsecp256k1",
  "merlin 3.0.0",
@@ -4842,7 +4842,7 @@ dependencies = [
  "futures-util",
  "hashbrown 0.14.3",
  "hex",
- "itertools 0.12.0",
+ "itertools 0.12.1",
  "log",
  "lru",
  "no-std-net",
diff --git a/crates/transcode/Cargo.toml b/crates/transcode/Cargo.toml
index 96081de16..50595d056 100644
--- a/crates/transcode/Cargo.toml
+++ b/crates/transcode/Cargo.toml
@@ -26,7 +26,7 @@ hex = "0.4.3"
 indexmap = "2.2.1"
 ink_env = "5.0.0-rc"
 ink_metadata = "5.0.0-rc"
-itertools = "0.12.0"
+itertools = "0.12.1"
 tracing = "0.1.40"
 nom = "7.1.3"
 nom-supreme = { version = "0.7.0", features = ["error"] }