diff --git a/packages/components/CHANGELOG.md b/packages/components/CHANGELOG.md
index aaee63a66ba53a..3b0679e60cdb24 100644
--- a/packages/components/CHANGELOG.md
+++ b/packages/components/CHANGELOG.md
@@ -6,6 +6,10 @@
 
 -   `Dashicon`: remove unnecessary type for `className` prop ([46849](https://github.com/WordPress/gutenberg/pull/46849)).
 
+### Bug Fix
+
+-   `Placeholder`: set fixed right margin for label's icon ([46918](https://github.com/WordPress/gutenberg/pull/46918)).
+
 ## 23.1.0 (2023-01-02)
 
 ## 23.0.0 (2022-12-14)
@@ -76,6 +80,7 @@
 -   `TabPanel`: Add ability to set icon only tab buttons ([#45005](https://github.com/WordPress/gutenberg/pull/45005)).
 
 ### Internal
+
 -   `AnglePickerControl`: remove `:focus-visible' outline on `CircleOutlineWrapper` ([#45758](https://github.com/WordPress/gutenberg/pull/45758))
 
 ### Bug Fix
diff --git a/packages/components/src/placeholder/style.scss b/packages/components/src/placeholder/style.scss
index 9f5db03711dc7e..7fd9977e4645dc 100644
--- a/packages/components/src/placeholder/style.scss
+++ b/packages/components/src/placeholder/style.scss
@@ -45,7 +45,7 @@
 	> svg,
 	.dashicon,
 	.block-editor-block-icon {
-		margin-right: 1ch;
+		margin-right: $grid-unit-15;
 		fill: currentColor;
 		// Optimizate for high contrast modes.
 		// See also https://blogs.windows.com/msedgedev/2020/09/17/styling-for-windows-high-contrast-with-new-standards-for-forced-colors/.