diff --git a/Cargo.lock b/Cargo.lock
index 5d9b28d..688b197 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -217,7 +217,7 @@ checksum = "b35204fbdc0b3f4446b89fc1ac2cf84a8a68971995d0bf2e925ec7cd960f9cb3"
 
 [[package]]
 name = "canbench"
-version = "0.4.1"
+version = "0.5.0"
 dependencies = [
  "canbench-rs",
  "candid",
@@ -241,7 +241,7 @@ dependencies = [
 
 [[package]]
 name = "canbench-rs"
-version = "0.4.1"
+version = "0.5.0"
 dependencies = [
  "canbench-rs-macros",
  "candid",
@@ -251,7 +251,7 @@ dependencies = [
 
 [[package]]
 name = "canbench-rs-macros"
-version = "0.4.1"
+version = "0.5.0"
 dependencies = [
  "proc-macro2",
  "quote",
diff --git a/canbench-bin/Cargo.toml b/canbench-bin/Cargo.toml
index 39a6535..687fe24 100644
--- a/canbench-bin/Cargo.toml
+++ b/canbench-bin/Cargo.toml
@@ -7,14 +7,14 @@ name = "canbench"
 readme = "../README.md"
 repository = "https://github.com/dfinity/canbench"
 # NOTE: Update `canbench-rs` version below when this changes.
-version = "0.4.1"
+version = "0.5.0"
 
 [[bin]]
 name = "canbench"
 path = "src/main.rs"
 
 [dependencies]
-canbench-rs = { path = "../canbench-rs", version = "0.4.1" }
+canbench-rs = { path = "../canbench-rs", version = "0.5.0" }
 candid.workspace = true
 clap.workspace = true
 colored.workspace = true
diff --git a/canbench-bin/tests/tests.rs b/canbench-bin/tests/tests.rs
index f9b49e0..471394c 100644
--- a/canbench-bin/tests/tests.rs
+++ b/canbench-bin/tests/tests.rs
@@ -284,7 +284,7 @@ fn newer_version() {
         .run(|output| {
         assert_err!(
                 output,
-                "canbench is at version 0.4.1 while the results were generated with version 99.0.0. Please upgrade canbench.
+                "canbench is at version 0.5.0 while the results were generated with version 99.0.0. Please upgrade canbench.
 "
             );
         });
diff --git a/canbench-rs-macros/Cargo.toml b/canbench-rs-macros/Cargo.toml
index ea6727e..70ed5dc 100644
--- a/canbench-rs-macros/Cargo.toml
+++ b/canbench-rs-macros/Cargo.toml
@@ -4,7 +4,7 @@ edition = "2021"
 license = "Apache-2.0"
 name = "canbench-rs-macros"
 repository = "https://github.com/dfinity/canbench"
-version = "0.4.1"
+version = "0.5.0"
 
 # See more keys and their definitions at https://doc.rust-lang.org/cargo/reference/manifest.html
 
diff --git a/canbench-rs/Cargo.toml b/canbench-rs/Cargo.toml
index 6c06735..5ae78bf 100644
--- a/canbench-rs/Cargo.toml
+++ b/canbench-rs/Cargo.toml
@@ -7,7 +7,7 @@ name = "canbench-rs"
 readme = "../README.md"
 repository = "https://github.com/dfinity/canbench"
 # NOTE: Update `canbench-rs-macros` version below when this changes.
-version = "0.4.1"
+version = "0.5.0"
 
 # See more keys and their definitions at https://doc.rust-lang.org/cargo/reference/manifest.html
 
@@ -15,7 +15,7 @@ version = "0.4.1"
 path = "src/lib.rs"
 
 [dependencies]
-canbench-rs-macros = { path = "../canbench-rs-macros", version = "0.4.1" }
+canbench-rs-macros = { path = "../canbench-rs-macros", version = "0.5.0" }
 candid.workspace = true
 ic-cdk.workspace = true
 serde.workspace = true