diff --git a/.version b/.version
index 9c6d629..bd8bf88 100644
--- a/.version
+++ b/.version
@@ -1 +1 @@
-1.6.1
+1.7.0
diff --git a/setup.py b/setup.py
index 26f4d65..a09167f 100644
--- a/setup.py
+++ b/setup.py
@@ -6,5 +6,5 @@ from setuptools import setup
 setup(
     name='pre_commit_placeholder_package',
     version='0.0.0',
-    install_requires=['mypy==1.6.1'],
+    install_requires=['mypy==1.7.0'],
 )