diff --git a/.release-please-manifest-individual.json b/.release-please-manifest-individual.json
index b347ac48442..b665fd3204e 100644
--- a/.release-please-manifest-individual.json
+++ b/.release-please-manifest-individual.json
@@ -6,7 +6,7 @@
   "firestore": "1.9.0",
   "logging": "1.6.1",
   "profiler": "0.3.1",
-  "pubsub": "1.27.0",
+  "pubsub": "1.27.1",
   "pubsublite": "1.5.0",
   "spanner": "1.41.0",
   "storage": "1.28.0"
diff --git a/pubsub/CHANGES.md b/pubsub/CHANGES.md
index 1ea0e57a252..b044ce3dbbe 100644
--- a/pubsub/CHANGES.md
+++ b/pubsub/CHANGES.md
@@ -1,5 +1,12 @@
 # Changes
 
+## [1.27.1](https://github.com/googleapis/google-cloud-go/compare/pubsub/v1.27.0...pubsub/v1.27.1) (2022-12-02)
+
+
+### Bug Fixes
+
+* **pubsub:** downgrade some dependencies ([7540152](https://github.com/googleapis/google-cloud-go/commit/754015236d5af7c82a75da218b71a87b9ead6eb5))
+
 ## [1.27.0](https://github.com/googleapis/google-cloud-go/compare/pubsub/v1.26.0...pubsub/v1.27.0) (2022-11-29)
 
 
diff --git a/pubsub/internal/version.go b/pubsub/internal/version.go
index dc1cb9f6009..c828210e2d6 100644
--- a/pubsub/internal/version.go
+++ b/pubsub/internal/version.go
@@ -15,4 +15,4 @@
 package internal
 
 // Version is the current tagged release of the library.
-const Version = "1.27.0"
+const Version = "1.27.1"