On new releases, you will need to upgrade the Elementary CLI and the dbt package.

​
Upgrade Elementary dbt package

  1. On your packages.yml file, change the version to the latest:
packages.yml
packages:
  - package: elementary-data/elementary
    version: < latest version >
  1. Run the command:
dbt deps
  1. If this is a change of minor version (like 0.4.X -> 0.5.X), run also:
dbt run --select elementary

​
Upgrade Elementary CLI

Just run: 
pip install elementary-data --upgrade