diff --git a/package/python-propcache/python-propcache.hash b/package/python-propcache/python-propcache.hash
index 347f232927..1564f0591e 100644
--- a/package/python-propcache/python-propcache.hash
+++ b/package/python-propcache/python-propcache.hash
@@ -1,5 +1,5 @@
 # md5, sha256 from https://pypi.org/pypi/propcache/json
-md5  9efab9358cf05265dbee69297e0de96a  propcache-0.4.1.tar.gz
-sha256  f48107a8c637e80362555f37ecf49abe20370e557cc4ab374f04ec4423c97c3d  propcache-0.4.1.tar.gz
+md5  a0ee7b9105e3b9a423278af3816c1751  propcache-0.5.4.tar.gz
+sha256  ff6b113f50bc066a698db5d944d2c6dc7507168dd3341e255a8892fd0715a558  propcache-0.5.4.tar.gz
 # Locally computed sha256 checksums
 sha256  cfc7749b96f63bd31c3c42b5c471bf756814053e847c10f3eb003417bc523d30  LICENSE
diff --git a/package/python-propcache/python-propcache.mk b/package/python-propcache/python-propcache.mk
index d1f659498e..90f1cbacbe 100644
--- a/package/python-propcache/python-propcache.mk
+++ b/package/python-propcache/python-propcache.mk
@@ -4,9 +4,9 @@
 #
 ################################################################################
 
-PYTHON_PROPCACHE_VERSION = 0.4.1
+PYTHON_PROPCACHE_VERSION = 0.5.4
 PYTHON_PROPCACHE_SOURCE = propcache-$(PYTHON_PROPCACHE_VERSION).tar.gz
-PYTHON_PROPCACHE_SITE = https://files.pythonhosted.org/packages/9e/da/e9fc233cf63743258bff22b3dfa7ea5baef7b5bc324af47a0ad89b8ffc6f
+PYTHON_PROPCACHE_SITE = https://files.pythonhosted.org/packages/b3/9a/9fbf4e4ec0c2d7f1c32519fff782ef467859b8faa9fbc5331a96f6395d43
 PYTHON_PROPCACHE_SETUP_TYPE = setuptools
 PYTHON_PROPCACHE_LICENSE = Apache-2.0
 PYTHON_PROPCACHE_LICENSE_FILES = LICENSE