World champion Spain remains No. 1 in FIFA's monthly rankings ahead of Germany and Uruguay, followed by the Netherlands and Portugal.
The only change among the top 10 in the May rankings is Argentina swapping places with Denmark to occupy spot No. 9.
Only eight international matches, all of which were exhibitions, were played last month as national championships are ending in many countries.
FIFA expects more changes during May as more exhibitions are played in the lead up to the European Championship next month and another round of 2014 World Cup qualifiers.
Euro 2012 runs from June 8 to July 1.