The best way to find out what it is is to look at the CSS standard .
Here you can see that it is defined as the font size for the element in question, i.e. it is related to the font height for the element. Font size is not a measurement of any particular letter. The actual height of individual letters may be larger or smaller than the font size, although they will usually be smaller. From Wikipedia :
In the digital type, the ratio of the height of individual letters to em is arbitrarily set by the font designer. However, as a very rough guideline, the “medium” font may have a header height of 70% of em, and x-height - 48% of em.
Another thing to note in the CSS standard:
The only exception to this rule is the "font-size" property, where the "em" and "ex" values refer to the font size of the parent element.
This exception makes sense, otherwise you get a recursive definition of the font size.
A commonly used but incorrect definition is that it is the width of the letter "M". This was previously defined in typography, but these days it is no longer the case, and CSS has never been right. "M" is actually often less wide than 1 em (this, of course, depends on the font).
Mark byers
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