Indeed. Although bar sizes are usually expressed in mm, they are based on the Imperial system. It's actually 1" and 1.25" . The latter translates to 31.75mm
No idea why we commonly use mm for bar sizes and then resort to inches when it comes to steerer tube diameters. Maybe it's because the French used to have a 25.0mm bar size BITD ? The standard for grip diameter is 22.2mm, which translates to 7/8", so that's not it.