diff --git a/Cargo.lock b/Cargo.lock
index 70d0505dfa..54269ac7a5 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -2783,18 +2783,18 @@ checksum = "f638d531eccd6e23b980caf34876660d38e265409d8e99b397ab71eb3612fad0"
 
 [[package]]
 name = "serde"
-version = "1.0.158"
+version = "1.0.159"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "771d4d9c4163ee138805e12c710dd365e4f44be8be0503cb1bb9eb989425d9c9"
+checksum = "3c04e8343c3daeec41f58990b9d77068df31209f2af111e059e9fe9646693065"
 dependencies = [
  "serde_derive",
 ]
 
 [[package]]
 name = "serde_derive"
-version = "1.0.158"
+version = "1.0.159"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "e801c1712f48475582b7696ac71e0ca34ebb30e09338425384269d9717c62cad"
+checksum = "4c614d17805b093df4b147b51339e7e44bf05ef59fba1e45d83500bcfb4d8585"
 dependencies = [
  "proc-macro2",
  "quote",
diff --git a/cli/Cargo.toml b/cli/Cargo.toml
index aef50fe0cd..0c0537a52c 100644
--- a/cli/Cargo.toml
+++ b/cli/Cargo.toml
@@ -26,7 +26,7 @@ clap = { version = "4.1.11", features = ["derive", "cargo"] }
 # colourful error reports
 color-eyre = "0.6.1"
 # serialize the metadata
-serde = { version = "1.0.155", features = ["derive"] }
+serde = { version = "1.0.159", features = ["derive"] }
 # serialize as json
 serde_json = "1.0.95"
 # hex encoded metadata to bytes
diff --git a/subxt/Cargo.toml b/subxt/Cargo.toml
index 8433646247..2dd124a38f 100644
--- a/subxt/Cargo.toml
+++ b/subxt/Cargo.toml
@@ -44,7 +44,7 @@ scale-encode = "0.1.0"
 futures = { version = "0.3.27", default-features = false, features = ["std"] }
 hex = "0.4.3"
 jsonrpsee = { version = "0.16", optional = true, features = ["jsonrpsee-types"] }
-serde = { version = "1.0.155", features = ["derive"] }
+serde = { version = "1.0.159", features = ["derive"] }
 serde_json = { version = "1.0.95", features = ["raw_value"] }
 thiserror = "1.0.40"
 tracing = "0.1.34"