+### Documentation
+
+<!-- Major changes to documentation and policies. Small docs changes
+ don't need a changelog entry. -->
+
+## 23.1.0
+
+### Highlights
+
+This is the first release of 2023, and following our
+[stability policy](https://black.readthedocs.io/en/stable/the_black_code_style/index.html#stability-policy),
+it comes with a number of improvements to our stable style, including improvements to
+empty line handling, removal of redundant parentheses in several contexts, and output
+that highlights implicitly concatenated strings better.
+
+There are also many changes to the preview style; try out `black --preview` and give us
+feedback to help us set the stable style for next year.
+
+In addition to style changes, Black now automatically infers the supported Python
+versions from your `pyproject.toml` file, removing the need to set Black's target
+versions separately.
+
+### Stable style
+
+<!-- Changes that affect Black's stable style -->
+
+- Introduce the 2023 stable style, which incorporates most aspects of last year's
+ preview style (#3418). Specific changes:
+ - Enforce empty lines before classes and functions with sticky leading comments
+ (#3302) (22.12.0)
+ - Reformat empty and whitespace-only files as either an empty file (if no newline is
+ present) or as a single newline character (if a newline is present) (#3348)
+ (22.12.0)
+ - Implicitly concatenated strings used as function args are now wrapped inside
+ parentheses (#3307) (22.12.0)
+ - Correctly handle trailing commas that are inside a line's leading non-nested parens
+ (#3370) (22.12.0)
+ - `--skip-string-normalization` / `-S` now prevents docstring prefixes from being
+ normalized as expected (#3168) (since 22.8.0)
+ - When using `--skip-magic-trailing-comma` or `-C`, trailing commas are stripped from
+ subscript expressions with more than 1 element (#3209) (22.8.0)
+ - Implicitly concatenated strings inside a list, set, or tuple are now wrapped inside
+ parentheses (#3162) (22.8.0)
+ - Fix a string merging/split issue when a comment is present in the middle of
+ implicitly concatenated strings on its own line (#3227) (22.8.0)
+ - Docstring quotes are no longer moved if it would violate the line length limit
+ (#3044, #3430) (22.6.0)
+ - Parentheses around return annotations are now managed (#2990) (22.6.0)
+ - Remove unnecessary parentheses around awaited objects (#2991) (22.6.0)
+ - Remove unnecessary parentheses in `with` statements (#2926) (22.6.0)
+ - Remove trailing newlines after code block open (#3035) (22.6.0)
+ - Code cell separators `#%%` are now standardised to `# %%` (#2919) (22.3.0)
+ - Remove unnecessary parentheses from `except` statements (#2939) (22.3.0)
+ - Remove unnecessary parentheses from tuple unpacking in `for` loops (#2945) (22.3.0)
+ - Avoid magic-trailing-comma in single-element subscripts (#2942) (22.3.0)
+- Fix a crash when a colon line is marked between `# fmt: off` and `# fmt: on` (#3439)
+
+### Preview style
+
+<!-- Changes that affect Black's preview style -->
+
+- Format hex codes in unicode escape sequences in string literals (#2916)
+- Add parentheses around `if`-`else` expressions (#2278)
+- Improve performance on large expressions that contain many strings (#3467)
+- Fix a crash in preview style with assert + parenthesized string (#3415)
+- Fix crashes in preview style with walrus operators used in function return annotations
+ and except clauses (#3423)
+- Fix a crash in preview advanced string processing where mixed implicitly concatenated
+ regular and f-strings start with an empty span (#3463)
+- Fix a crash in preview advanced string processing where a standalone comment is placed
+ before a dict's value (#3469)
+- Fix an issue where extra empty lines are added when a decorator has `# fmt: skip`
+ applied or there is a standalone comment between decorators (#3470)
+- Do not put the closing quotes in a docstring on a separate line, even if the line is
+ too long (#3430)
+- Long values in dict literals are now wrapped in parentheses; correspondingly
+ unnecessary parentheses around short values in dict literals are now removed; long
+ string lambda values are now wrapped in parentheses (#3440)
+- Fix two crashes in preview style involving edge cases with docstrings (#3451)
+- Exclude string type annotations from improved string processing; fix crash when the
+ return type annotation is stringified and spans across multiple lines (#3462)
+- Wrap multiple context managers in parentheses when targeting Python 3.9+ (#3489)
+- Fix several crashes in preview style with walrus operators used in `with` statements
+ or tuples (#3473)
+- Fix an invalid quote escaping bug in f-string expressions where it produced invalid
+ code. Implicitly concatenated f-strings with different quotes can now be merged or
+ quote-normalized by changing the quotes used in expressions. (#3509)
+- Fix crash on `await (yield)` when Black is compiled with mypyc (#3533)
+
+### Configuration
+
+<!-- Changes to how Black can be configured -->
+
+- Black now tries to infer its `--target-version` from the project metadata specified in
+ `pyproject.toml` (#3219)
+
+### Packaging
+
+<!-- Changes to how Black is packaged, such as dependency requirements -->
+
+- Upgrade mypyc from `0.971` to `0.991` so mypycified _Black_ can be built on armv7
+ (#3380)
+ - This also fixes some crashes while using compiled Black with a debug build of
+ CPython
+- Drop specific support for the `tomli` requirement on 3.11 alpha releases, working
+ around a bug that would cause the requirement not to be installed on any non-final
+ Python releases (#3448)
+- Black now depends on `packaging` version `22.0` or later. This is required for new
+ functionality that needs to parse part of the project metadata (#3219)
+
+### Output
+
+<!-- Changes to Black's terminal output and error messages -->
+
+- Calling `black --help` multiple times will return the same help contents each time
+ (#3516)
+- Verbose logging now shows the values of `pyproject.toml` configuration variables
+ (#3392)
+- Fix false symlink detection messages in verbose output due to using an incorrect
+ relative path to the project root (#3385)
+
+### Integrations
+
+<!-- For example, Docker, GitHub Actions, pre-commit, editors -->
+
+- Move 3.11 CI to normal flow now that all dependencies support 3.11 (#3446)
+- Docker: Add new `latest_prerelease` tag automation to follow latest black alpha
+ release on docker images (#3465)