diff --git a/plugins/woocommerce-blocks/package-lock.json b/plugins/woocommerce-blocks/package-lock.json
index 435be080c4b..8a4f79bafe1 100644
--- a/plugins/woocommerce-blocks/package-lock.json
+++ b/plugins/woocommerce-blocks/package-lock.json
@@ -101,7 +101,7 @@
 				"@woocommerce/eslint-plugin": "2.2.0",
 				"@woocommerce/woocommerce-rest-api": "1.0.1",
 				"@wordpress/api-fetch": "6.21.0",
-				"@wordpress/babel-preset-default": "7.8.0",
+				"@wordpress/babel-preset-default": "7.16.0",
 				"@wordpress/base-styles": "4.14.0",
 				"@wordpress/block-editor": "8.2.0",
 				"@wordpress/blocks": "11.1.5",
@@ -13400,9 +13400,9 @@
 			}
 		},
 		"node_modules/@wordpress/babel-preset-default": {
-			"version": "7.8.0",
-			"resolved": "https://registry.npmjs.org/@wordpress/babel-preset-default/-/babel-preset-default-7.8.0.tgz",
-			"integrity": "sha512-phaMgxfJic1t1FS0qfUk+xkg/07/l1FGOxbsmqMmiNp82mwSYMnAaYX8wWLynaBgR6baRskFaXGLpzD1s0fuZA==",
+			"version": "7.16.0",
+			"resolved": "https://registry.npmjs.org/@wordpress/babel-preset-default/-/babel-preset-default-7.16.0.tgz",
+			"integrity": "sha512-3OYf0uoEPZY/k8VKq00sef2AM4HPGgnlMWPpiVYsBR1oQYuBDa6DmQwK1nm2TMOgouxWODkc1G+WtoixFl3RVA==",
 			"dev": true,
 			"dependencies": {
 				"@babel/core": "^7.16.0",
@@ -13411,10 +13411,10 @@
 				"@babel/preset-env": "^7.16.0",
 				"@babel/preset-typescript": "^7.16.0",
 				"@babel/runtime": "^7.16.0",
-				"@wordpress/babel-plugin-import-jsx-pragma": "^4.7.0",
-				"@wordpress/browserslist-config": "^5.7.0",
-				"@wordpress/element": "^5.1.0",
-				"@wordpress/warning": "^2.24.0",
+				"@wordpress/babel-plugin-import-jsx-pragma": "^4.15.0",
+				"@wordpress/browserslist-config": "^5.15.0",
+				"@wordpress/element": "^5.9.0",
+				"@wordpress/warning": "^2.32.0",
 				"browserslist": "^4.17.6",
 				"core-js": "^3.19.1"
 			},
@@ -13423,9 +13423,9 @@
 			}
 		},
 		"node_modules/@wordpress/babel-preset-default/node_modules/@wordpress/babel-plugin-import-jsx-pragma": {
-			"version": "4.7.0",
-			"resolved": "https://registry.npmjs.org/@wordpress/babel-plugin-import-jsx-pragma/-/babel-plugin-import-jsx-pragma-4.7.0.tgz",
-			"integrity": "sha512-I5STe1MCM3z6yV8QyAZPAXe3ahJADAJJsQOYhO/6FEyhToWSMHFqIKRg4qhRQjSvt2dkyL8gqg2cIcjwvVvrcQ==",
+			"version": "4.15.0",
+			"resolved": "https://registry.npmjs.org/@wordpress/babel-plugin-import-jsx-pragma/-/babel-plugin-import-jsx-pragma-4.15.0.tgz",
+			"integrity": "sha512-KahWIgSPjJq/Up/rtuop+5hGINp3DiapRwIVpiJklowUHs0zLOXOgHUxj7q5vXzOlFR4NZAQX9ENO3dV5lLJmA==",
 			"dev": true,
 			"engines": {
 				"node": ">=14"
@@ -13434,16 +13434,25 @@
 				"@babel/core": "^7.12.9"
 			}
 		},
+		"node_modules/@wordpress/babel-preset-default/node_modules/@wordpress/browserslist-config": {
+			"version": "5.15.0",
+			"resolved": "https://registry.npmjs.org/@wordpress/browserslist-config/-/browserslist-config-5.15.0.tgz",
+			"integrity": "sha512-ff1leg0SseDtBBxDMSTUNCS+1dbUVlQ0a0t/kUZdS3LTd9L71NGMGBA62aXFg2EVf+HT1O2I0mEASqH5fVcilg==",
+			"dev": true,
+			"engines": {
+				"node": ">=14"
+			}
+		},
 		"node_modules/@wordpress/babel-preset-default/node_modules/@wordpress/element": {
-			"version": "5.1.0",
-			"resolved": "https://registry.npmjs.org/@wordpress/element/-/element-5.1.0.tgz",
-			"integrity": "sha512-Q7kfxl2W6Ht1sfhFYlbVR0tIxDppoCrzpAC+UCYcu3uvw+sXzcTbh/Y2+nl2SaZBxF28eAFottoD3ek1fFJUsg==",
+			"version": "5.9.0",
+			"resolved": "https://registry.npmjs.org/@wordpress/element/-/element-5.9.0.tgz",
+			"integrity": "sha512-ZZB82h08Il9d45o4HrcbF3G6Q8yJU6NNyLnO/CMdfpCxD45bbwFT5drzmGx4jZniCrm+s/LoxArXLS+O8/Lx1Q==",
 			"dev": true,
 			"dependencies": {
 				"@babel/runtime": "^7.16.0",
 				"@types/react": "^18.0.21",
 				"@types/react-dom": "^18.0.6",
-				"@wordpress/escape-html": "^2.24.0",
+				"@wordpress/escape-html": "^2.32.0",
 				"change-case": "^4.1.2",
 				"is-plain-object": "^5.0.0",
 				"react": "^18.2.0",
@@ -16143,9 +16152,9 @@
 			}
 		},
 		"node_modules/@wordpress/escape-html": {
-			"version": "2.24.0",
-			"resolved": "https://registry.npmjs.org/@wordpress/escape-html/-/escape-html-2.24.0.tgz",
-			"integrity": "sha512-50EAQmgCVP3Q1i2C2ZVQ+DA1zpvCMrampd/9RrN+tH5QUOz6qW1Y8yqTLofiBQpSTt/oGtJqDnv/dsYie4TPyg==",
+			"version": "2.32.0",
+			"resolved": "https://registry.npmjs.org/@wordpress/escape-html/-/escape-html-2.32.0.tgz",
+			"integrity": "sha512-0GNMvutdJUhYgfIY6iAI4mNsyQV4FvMgUgECBQ1hXpWdbxGM7Lu2nH/UxLrAlh5QehNor+stYScT4v+yWJsM+g==",
 			"dependencies": {
 				"@babel/runtime": "^7.16.0"
 			},
@@ -18693,9 +18702,9 @@
 			}
 		},
 		"node_modules/@wordpress/warning": {
-			"version": "2.24.0",
-			"resolved": "https://registry.npmjs.org/@wordpress/warning/-/warning-2.24.0.tgz",
-			"integrity": "sha512-z+sTG5Ml3SivJsV+YAYXYmsh54HLicA5pwzsCzjf852gOhfkaPKxfALvbb4ITx791asNowC8BFb4esIm49ZNQQ==",
+			"version": "2.32.0",
+			"resolved": "https://registry.npmjs.org/@wordpress/warning/-/warning-2.32.0.tgz",
+			"integrity": "sha512-jGzeFcThz/7jwWezu1pLtHLQap5aDmpF3v2bXXKJBA5Qb4VIRD4oauf1yFvqqb9CkfTLhw8E/KbtW0xzVffqDg==",
 			"engines": {
 				"node": ">=12"
 			}
@@ -61382,9 +61391,9 @@
 			"requires": {}
 		},
 		"@wordpress/babel-preset-default": {
-			"version": "7.8.0",
-			"resolved": "https://registry.npmjs.org/@wordpress/babel-preset-default/-/babel-preset-default-7.8.0.tgz",
-			"integrity": "sha512-phaMgxfJic1t1FS0qfUk+xkg/07/l1FGOxbsmqMmiNp82mwSYMnAaYX8wWLynaBgR6baRskFaXGLpzD1s0fuZA==",
+			"version": "7.16.0",
+			"resolved": "https://registry.npmjs.org/@wordpress/babel-preset-default/-/babel-preset-default-7.16.0.tgz",
+			"integrity": "sha512-3OYf0uoEPZY/k8VKq00sef2AM4HPGgnlMWPpiVYsBR1oQYuBDa6DmQwK1nm2TMOgouxWODkc1G+WtoixFl3RVA==",
 			"dev": true,
 			"requires": {
 				"@babel/core": "^7.16.0",
@@ -61393,31 +61402,37 @@
 				"@babel/preset-env": "^7.16.0",
 				"@babel/preset-typescript": "^7.16.0",
 				"@babel/runtime": "^7.16.0",
-				"@wordpress/babel-plugin-import-jsx-pragma": "^4.7.0",
-				"@wordpress/browserslist-config": "^5.7.0",
-				"@wordpress/element": "^5.1.0",
-				"@wordpress/warning": "^2.24.0",
+				"@wordpress/babel-plugin-import-jsx-pragma": "^4.15.0",
+				"@wordpress/browserslist-config": "^5.15.0",
+				"@wordpress/element": "^5.9.0",
+				"@wordpress/warning": "^2.32.0",
 				"browserslist": "^4.17.6",
 				"core-js": "^3.19.1"
 			},
 			"dependencies": {
 				"@wordpress/babel-plugin-import-jsx-pragma": {
-					"version": "4.7.0",
-					"resolved": "https://registry.npmjs.org/@wordpress/babel-plugin-import-jsx-pragma/-/babel-plugin-import-jsx-pragma-4.7.0.tgz",
-					"integrity": "sha512-I5STe1MCM3z6yV8QyAZPAXe3ahJADAJJsQOYhO/6FEyhToWSMHFqIKRg4qhRQjSvt2dkyL8gqg2cIcjwvVvrcQ==",
+					"version": "4.15.0",
+					"resolved": "https://registry.npmjs.org/@wordpress/babel-plugin-import-jsx-pragma/-/babel-plugin-import-jsx-pragma-4.15.0.tgz",
+					"integrity": "sha512-KahWIgSPjJq/Up/rtuop+5hGINp3DiapRwIVpiJklowUHs0zLOXOgHUxj7q5vXzOlFR4NZAQX9ENO3dV5lLJmA==",
 					"dev": true,
 					"requires": {}
 				},
+				"@wordpress/browserslist-config": {
+					"version": "5.15.0",
+					"resolved": "https://registry.npmjs.org/@wordpress/browserslist-config/-/browserslist-config-5.15.0.tgz",
+					"integrity": "sha512-ff1leg0SseDtBBxDMSTUNCS+1dbUVlQ0a0t/kUZdS3LTd9L71NGMGBA62aXFg2EVf+HT1O2I0mEASqH5fVcilg==",
+					"dev": true
+				},
 				"@wordpress/element": {
-					"version": "5.1.0",
-					"resolved": "https://registry.npmjs.org/@wordpress/element/-/element-5.1.0.tgz",
-					"integrity": "sha512-Q7kfxl2W6Ht1sfhFYlbVR0tIxDppoCrzpAC+UCYcu3uvw+sXzcTbh/Y2+nl2SaZBxF28eAFottoD3ek1fFJUsg==",
+					"version": "5.9.0",
+					"resolved": "https://registry.npmjs.org/@wordpress/element/-/element-5.9.0.tgz",
+					"integrity": "sha512-ZZB82h08Il9d45o4HrcbF3G6Q8yJU6NNyLnO/CMdfpCxD45bbwFT5drzmGx4jZniCrm+s/LoxArXLS+O8/Lx1Q==",
 					"dev": true,
 					"requires": {
 						"@babel/runtime": "^7.16.0",
 						"@types/react": "^18.0.21",
 						"@types/react-dom": "^18.0.6",
-						"@wordpress/escape-html": "^2.24.0",
+						"@wordpress/escape-html": "^2.32.0",
 						"change-case": "^4.1.2",
 						"is-plain-object": "^5.0.0",
 						"react": "^18.2.0",
@@ -63507,9 +63522,9 @@
 			}
 		},
 		"@wordpress/escape-html": {
-			"version": "2.24.0",
-			"resolved": "https://registry.npmjs.org/@wordpress/escape-html/-/escape-html-2.24.0.tgz",
-			"integrity": "sha512-50EAQmgCVP3Q1i2C2ZVQ+DA1zpvCMrampd/9RrN+tH5QUOz6qW1Y8yqTLofiBQpSTt/oGtJqDnv/dsYie4TPyg==",
+			"version": "2.32.0",
+			"resolved": "https://registry.npmjs.org/@wordpress/escape-html/-/escape-html-2.32.0.tgz",
+			"integrity": "sha512-0GNMvutdJUhYgfIY6iAI4mNsyQV4FvMgUgECBQ1hXpWdbxGM7Lu2nH/UxLrAlh5QehNor+stYScT4v+yWJsM+g==",
 			"requires": {
 				"@babel/runtime": "^7.16.0"
 			}
@@ -65390,9 +65405,9 @@
 			}
 		},
 		"@wordpress/warning": {
-			"version": "2.24.0",
-			"resolved": "https://registry.npmjs.org/@wordpress/warning/-/warning-2.24.0.tgz",
-			"integrity": "sha512-z+sTG5Ml3SivJsV+YAYXYmsh54HLicA5pwzsCzjf852gOhfkaPKxfALvbb4ITx791asNowC8BFb4esIm49ZNQQ=="
+			"version": "2.32.0",
+			"resolved": "https://registry.npmjs.org/@wordpress/warning/-/warning-2.32.0.tgz",
+			"integrity": "sha512-jGzeFcThz/7jwWezu1pLtHLQap5aDmpF3v2bXXKJBA5Qb4VIRD4oauf1yFvqqb9CkfTLhw8E/KbtW0xzVffqDg=="
 		},
 		"@wordpress/wordcount": {
 			"version": "3.13.0",
diff --git a/plugins/woocommerce-blocks/package.json b/plugins/woocommerce-blocks/package.json
index 6e57db14ad2..ab04582d037 100644
--- a/plugins/woocommerce-blocks/package.json
+++ b/plugins/woocommerce-blocks/package.json
@@ -148,7 +148,7 @@
 		"@woocommerce/eslint-plugin": "2.2.0",
 		"@woocommerce/woocommerce-rest-api": "1.0.1",
 		"@wordpress/api-fetch": "6.21.0",
-		"@wordpress/babel-preset-default": "7.8.0",
+		"@wordpress/babel-preset-default": "7.16.0",
 		"@wordpress/base-styles": "4.14.0",
 		"@wordpress/block-editor": "8.2.0",
 		"@wordpress/blocks": "11.1.5",