diff --git a/.changes/unreleased/Dependencies-20230711-123517.yaml b/.changes/unreleased/Dependencies-20230711-123517.yaml
new file mode 100644
index 000000000..a7d964540
--- /dev/null
+++ b/.changes/unreleased/Dependencies-20230711-123517.yaml
@@ -0,0 +1,6 @@
+kind: "Dependencies"
+body: "Update black requirement from ~=23.3 to ~=23.7"
+time: 2023-07-11T12:35:17.00000Z
+custom:
+  Author: dependabot[bot]
+  PR: 688
diff --git a/dev-requirements.txt b/dev-requirements.txt
index 3e144dca8..ace5661ad 100644
--- a/dev-requirements.txt
+++ b/dev-requirements.txt
@@ -5,7 +5,7 @@ git+https://github.com/dbt-labs/dbt-core.git#egg=dbt-tests-adapter&subdirectory=
 
 # if version 1.x or greater -> pin to major version
 # if version 0.x -> pin to minor
-black~=23.3
+black~=23.7
 bumpversion~=0.6.0
 click~=8.1
 ddtrace~=1.16