diff --git a/Makefile b/Makefile
index e1805c335..df1db41de 100644
--- a/Makefile
+++ b/Makefile
@@ -1,4 +1,4 @@
-VERSION := 0.5.4
+VERSION := 0.5.5
 
 # Name of this service/application
 SERVICE_NAME := redis-operator