How to update or upgrade angular cli version?

In order to upgrade angular-cli package that was installed globally in your system, you need to run following commands

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npm uninstall -g angular-cli
npm cache clean or npm cache verify (if npm > 5)
npm install -g @angular/cli@latest

Instead of upgrading global version of angular-cli you can also upgrade the local version for specific project y running following commands:

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rm -rf node_modules
npm uninstall --save-dev angular-cli
npm install --save-dev @angular/cli@latest
npm install