diff --git a/CHANGELOG.md b/CHANGELOG.md
index 5bb687ad6a..bd7c1a6be1 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -13,6 +13,7 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 
 ### Added
 
+- [#12295](https://github.com/inventree/InvenTree/pull/12295) adds "consumable" field to the Part model and API endpoints
 - [#12250](https://github.com/inventree/InvenTree/pull/12250) adds "active" field to the ProjectCode model and API endpoints
 
 ### Changed
diff --git a/src/backend/InvenTree/InvenTree/api_version.py b/src/backend/InvenTree/InvenTree/api_version.py
index b34c1ef5c5..c0378b7396 100644
--- a/src/backend/InvenTree/InvenTree/api_version.py
+++ b/src/backend/InvenTree/InvenTree/api_version.py
@@ -1,11 +1,14 @@
 """InvenTree API version information."""
 
 # InvenTree API version
-INVENTREE_API_VERSION = 513
+INVENTREE_API_VERSION = 514
 """Increment this API version number whenever there is a significant change to the API that any clients need to know about."""
 
 INVENTREE_API_TEXT = """
 
+v514 -> 2026-07-03 : https://github.com/inventree/InvenTree/pull/12295
+    - Adds "consumable" field to the Part model
+
 v513 -> 2026-06-25 : https://github.com/inventree/InvenTree/pull/12250
     - Adds "active" field to the ProjectCode model and API endpoints