diff --git a/.flowconfig b/.flowconfig
index 5329d6d6027..a7e698c4421 100644
--- a/.flowconfig
+++ b/.flowconfig
@@ -71,4 +71,4 @@ untyped-import
 untyped-type-import
 
 [version]
-^0.161.0
+^0.162.0
diff --git a/.flowconfig.android b/.flowconfig.android
index 56692434887..10a1f58d0d1 100644
--- a/.flowconfig.android
+++ b/.flowconfig.android
@@ -71,4 +71,4 @@ untyped-import
 untyped-type-import
 
 [version]
-^0.161.0
+^0.162.0
diff --git a/package.json b/package.json
index 29ea521de0d..50cfac09c64 100644
--- a/package.json
+++ b/package.json
@@ -119,7 +119,7 @@
     "ws": "^6.1.4"
   },
   "devDependencies": {
-    "flow-bin": "^0.161.0",
+    "flow-bin": "^0.162.0",
     "react": "17.0.2"
   },
   "detox": {
diff --git a/packages/rn-tester/js/components/RNTesterSettingSwitchRow.js b/packages/rn-tester/js/components/RNTesterSettingSwitchRow.js
index 3d38793e9ea..eeec4aa4e77 100644
--- a/packages/rn-tester/js/components/RNTesterSettingSwitchRow.js
+++ b/packages/rn-tester/js/components/RNTesterSettingSwitchRow.js
@@ -50,6 +50,7 @@ const styles = StyleSheet.create({
 /* $FlowFixMe[cannot-reassign-export] (>=0.85.0 site=react_native_fb) This
  * comment suppresses an error found when Flow v0.85 was deployed. To see the
  * error, delete this comment and run Flow. */
+// $FlowFixMe[cannot-reassign]
 RNTesterSettingSwitchRow = RNTesterStatePersister.createContainer(
   RNTesterSettingSwitchRow,
   {
diff --git a/repo-config/package.json b/repo-config/package.json
index 83772dfa04f..ca4ac3eae93 100644
--- a/repo-config/package.json
+++ b/repo-config/package.json
@@ -36,7 +36,7 @@
     "eslint-plugin-react-hooks": "^4.2.0",
     "eslint-plugin-react-native": "3.10.0",
     "eslint-plugin-relay": "1.8.1",
-    "flow-bin": "^0.161.0",
+    "flow-bin": "^0.162.0",
     "jest": "^26.6.3",
     "jest-junit": "^10.0.0",
     "jscodeshift": "^0.11.0",
diff --git a/template/_flowconfig b/template/_flowconfig
index 2a173f35c07..f0bc7b9aa32 100644
--- a/template/_flowconfig
+++ b/template/_flowconfig
@@ -62,4 +62,4 @@ untyped-import
 untyped-type-import
 
 [version]
-^0.161.0
+^0.162.0
diff --git a/yarn.lock b/yarn.lock
index c9dde3be89f..591bd1f1486 100644
--- a/yarn.lock
+++ b/yarn.lock
@@ -3028,10 +3028,10 @@ flatted@^2.0.0:
   resolved "https://registry.yarnpkg.com/flatted/-/flatted-2.0.2.tgz#4575b21e2bcee7434aa9be662f4b7b5f9c2b5138"
   integrity sha512-r5wGx7YeOwNWNlCA0wQ86zKyDLMQr+/RB8xy74M4hTphfmjlijTSSXGuH8rnvKZnfT9i+75zmd8jcKdMR4O6jA==
 
-flow-bin@^0.161.0:
-  version "0.161.0"
-  resolved "https://registry.yarnpkg.com/flow-bin/-/flow-bin-0.161.0.tgz#1c03ea4a9e3036a8bc639f050bd8dc6f5288e8bb"
-  integrity sha512-5BKQi+sjOXz67Kbc1teiBwd5e0Da6suW7S5oUCm9VclnzSZ3nlfNZUdrkvgJ5S4w5KDBDToEL7rREpn8rKF1zg==
+flow-bin@^0.162.0:
+  version "0.162.0"
+  resolved "https://registry.yarnpkg.com/flow-bin/-/flow-bin-0.162.0.tgz#26e3f9db2c93684499c68f1a85e57d888858dc5c"
+  integrity sha512-AXbDZjRzMQpmvyqeXlS9NV4eNHWGV1Fg/1v6FtuIAu+zsYJJ0mJ2JumqNUxF47rxOoeL9jGtuMxInx9rgqnFCw==
 
 flow-parser@0.*, flow-parser@^0.121.0:
   version "0.121.0"