diff --git a/Lib/fontTools/__init__.py b/Lib/fontTools/__init__.py
index 4b7c53d48..7fa7b3048 100644
--- a/Lib/fontTools/__init__.py
+++ b/Lib/fontTools/__init__.py
@@ -3,6 +3,6 @@ from fontTools.misc.loggingTools import configLogger
 
 log = logging.getLogger(__name__)
 
-version = __version__ = "4.31.2.dev0"
+version = __version__ = "4.31.2"
 
 __all__ = ["version", "log", "configLogger"]
diff --git a/NEWS.rst b/NEWS.rst
index f03a41615..5971d3ccd 100644
--- a/NEWS.rst
+++ b/NEWS.rst
@@ -1,3 +1,8 @@
+4.31.2 (released 2022-03-22)
+----------------------------
+
+- [varLib] fix instantiation of GPOS SinglePos values (#2555).
+
 4.31.1 (released 2022-03-18)
 ----------------------------
 
diff --git a/setup.cfg b/setup.cfg
index 2af82c8e6..7c7fc00c8 100644
--- a/setup.cfg
+++ b/setup.cfg
@@ -1,5 +1,5 @@
 [bumpversion]
-current_version = 4.31.2.dev0
+current_version = 4.31.2
 commit = True
 tag = False
 tag_name = {new_version}
diff --git a/setup.py b/setup.py
index fb9fdfef9..2f30ef4f6 100755
--- a/setup.py
+++ b/setup.py
@@ -439,7 +439,7 @@ if ext_modules:
 
 setup_params = dict(
 	name="fonttools",
-	version="4.31.2.dev0",
+	version="4.31.2",
 	description="Tools to manipulate font files",
 	author="Just van Rossum",
 	author_email="just@letterror.com",