diff --git a/.github/workflows/release.yaml b/.github/workflows/release.yaml
index d1ecf6834..5e49600ff 100644
--- a/.github/workflows/release.yaml
+++ b/.github/workflows/release.yaml
@@ -16,23 +16,23 @@ jobs:
       - name: Install Rust toolchain (x86_64-unknown-linux-gnu)
         uses: actions-rs/toolchain@v1
         with:
-            toolchain: "1.60"
+            toolchain: "1.62"
             target: x86_64-unknown-linux-gnu
       - name: Install Rust toolchain (x86_64-unknown-linux-musl)
         uses: actions-rs/toolchain@v1
         with:
-            toolchain: "1.60"
+            toolchain: "1.62"
             target: x86_64-unknown-linux-musl
       - name: Build
         uses: actions-rs/cargo@v1
         with:
-            toolchain: "1.60"
+            toolchain: "1.62"
             command: build
             args: --all --release --target=x86_64-unknown-linux-gnu
       - name: Static Build
         uses: actions-rs/cargo@v1
         with:
-            toolchain: "1.60"
+            toolchain: "1.62"
             command: build
             args: --all --release --target=x86_64-unknown-linux-musl
       - name: Strip cloud-hypervisor binaries
@@ -40,7 +40,7 @@ jobs:
       - name: Install Rust toolchain (aarch64-unknown-linux-musl)
         uses: actions-rs/toolchain@v1
         with:
-            toolchain: "1.60"
+            toolchain: "1.62"
             target: aarch64-unknown-linux-musl
             override: true
       - name: Static Build (AArch64)
diff --git a/resources/Dockerfile b/resources/Dockerfile
index 83987b06d..405516a96 100644
--- a/resources/Dockerfile
+++ b/resources/Dockerfile
@@ -4,7 +4,7 @@
 FROM ubuntu:20.04 as dev
 
 ARG TARGETARCH
-ARG RUST_TOOLCHAIN="1.60.0"
+ARG RUST_TOOLCHAIN="1.62.0"
 ARG CLH_SRC_DIR="/cloud-hypervisor"
 ARG CLH_BUILD_DIR="$CLH_SRC_DIR/build"
 ARG CARGO_REGISTRY_DIR="$CLH_BUILD_DIR/cargo_registry"
diff --git a/scripts/dev_cli.sh b/scripts/dev_cli.sh
index 272dc3874..eda5cddcb 100755
--- a/scripts/dev_cli.sh
+++ b/scripts/dev_cli.sh
@@ -7,7 +7,7 @@
 CLI_NAME="Cloud Hypervisor"
 
 CTR_IMAGE_TAG="cloudhypervisor/dev"
-CTR_IMAGE_VERSION="20220524-0"
+CTR_IMAGE_VERSION="20220705-0"
 CTR_IMAGE="${CTR_IMAGE_TAG}:${CTR_IMAGE_VERSION}"
 
 DOCKER_RUNTIME="docker"