diff --git a/settings.ini b/settings.ini
index da5d8786c..8d26c6955 100644
--- a/settings.ini
+++ b/settings.ini
@@ -13,7 +13,7 @@ author = Nixtla
 author_email = business@nixtla.io
 copyright = Nixtla Inc.
 branch = main
-version = 0.4.0
+version = 0.5.0
 min_python = 3.6
 audience = Developers
 language = English
diff --git a/statsforecast/__init__.py b/statsforecast/__init__.py
index ae987e5ab..8e4424260 100644
--- a/statsforecast/__init__.py
+++ b/statsforecast/__init__.py
@@ -1,3 +1,3 @@
-__version__ = "0.4.0"
+__version__ = "0.5.0"
 
 from .core import StatsForecast