diff --git a/packages/components/CHANGELOG.md b/packages/components/CHANGELOG.md
index 6ce2f99fab99f..a7c0ea58712ad 100644
--- a/packages/components/CHANGELOG.md
+++ b/packages/components/CHANGELOG.md
@@ -4,6 +4,7 @@
 
 ### Bug Fix
 
+-   `Placeholder`: Fix Placeholder component padding when body text font size is changed ([#58323](https://github.com/WordPress/gutenberg/pull/58323)).
 -   `Placeholder`: Fix Global Styles typography settings bleeding into placeholder component ([#58303](https://github.com/WordPress/gutenberg/pull/58303)).
 -   `PaletteEdit`: Fix palette item accessibility in details view ([#58214](https://github.com/WordPress/gutenberg/pull/58214)).
 
diff --git a/packages/components/src/placeholder/style.scss b/packages/components/src/placeholder/style.scss
index 5bb0e0bb2ef11..8c6ca72112300 100644
--- a/packages/components/src/placeholder/style.scss
+++ b/packages/components/src/placeholder/style.scss
@@ -1,5 +1,6 @@
 // This needs specificity to override individual block styles.
 .components-placeholder.components-placeholder {
+	font-size: $default-font-size;
 	box-sizing: border-box;
 	position: relative;
 	padding: 1em;