diff --git a/src/rez/utils/_version.py b/src/rez/utils/_version.py
index 74f1a4304..f4fd4ec01 100644
--- a/src/rez/utils/_version.py
+++ b/src/rez/utils/_version.py
@@ -4,4 +4,4 @@
 
 # Update this value to version up Rez. Do not place anything else in this file.
 # Using .devN allows us to run becnmarks and create proper benchmark reports on PRs.
-_rez_version = "3.1.2"
+_rez_version = "3.1.1"