diff --git a/gradle/libs.versions.toml b/gradle/libs.versions.toml
index 50c5a2deb1..f2bcf854cf 100644
--- a/gradle/libs.versions.toml
+++ b/gradle/libs.versions.toml
@@ -14,9 +14,9 @@ baselinePerfExtra = "3.5.1"
 # Other shared versions
 asciidoctor = "3.3.2"
 #note that some micrometer artifacts like context-propagation has a different version directly set in libraries below
-micrometer = "1.12.0"
+micrometer = "1.12.1"
 micrometerDocsGenerator = "1.0.2"
-micrometerTracingTest="1.2.0"
+micrometerTracingTest="1.2.1"
 contextPropagation="1.1.0"
 kotlin = "1.5.32"
 reactiveStreams = "1.0.4"
diff --git a/settings.gradle b/settings.gradle
index 7405c35b84..e0985fffa5 100644
--- a/settings.gradle
+++ b/settings.gradle
@@ -26,10 +26,10 @@ dependencyResolutionManagement {
   versionCatalogs {
 	libs {
 	  if (System.getProperty("useSnapshotMicrometerVersion")) {
-		version('micrometer', '1.12.0-SNAPSHOT')
+		version('micrometer', '1.12.2-SNAPSHOT')
 		version('micrometerDocsGenerator', "1.0.3-SNAPSHOT")
-		version('micrometerTracingTest', "1.2.0-SNAPSHOT")
-		version('contextPropagation', "1.0.6-SNAPSHOT")
+		version('micrometerTracingTest', "1.2.2-SNAPSHOT")
+		version('contextPropagation', "1.1.1-SNAPSHOT")
 	  }
 	}
   }