Compatibility Of Yii 1.1.13 With Mysql 5.5.29

Is it possible to use the latest version of MySql 5.5.29 with new stable version 1.1.13 . Currently am using PHP 5.1 application, We are planning to use PHP 5.1 while we are shifting it to Yii framework.Because we used PHP 5.1 for our application. So the latest version of MySql 5.5.29 will compatible with my requirements ?

Our development server is running with this combination fine.

Really thanks a lot. We are panning to combine (Yii 1.1.13 ,PHP 5.1 , MySql 5.5.29). Thanks again.