[Old Pedant]

Short answer: Yes.

Longer answer re Decimal: MySQL stores decimal values in groups of 9 digits, either left of right of the decimal point.

So although MySQL *enforces* DECIMAL(5,2) to only allow 3 digits left and 2 right of the decimal point, there's really no point in specifying such a small size. It will occupy the same amount of disk space as DECIMAL(18,9). Now, you may very well NOT want to allow more than 2 digits right of the decimal point, so a reasonable compromise is DECIMAL(11,2) -- 9 digits left, 2 digits right. That will occupy the same amount of disk space as DECIMAL(5,2) but give you flexibility in case someday you actually have a price of 1372.99 (for example).

In short: There is little point in specifying a DECIMAL size smaller than DECIMAL(11,2) or DECIMAL(18,9) or any other combination that puts 9 digits left of the decimal point.