diff --git a/lib/valueflow.cpp b/lib/valueflow.cpp
index ff6f14000..3ef0133d0 100644
--- a/lib/valueflow.cpp
+++ b/lib/valueflow.cpp
@@ -9218,6 +9218,7 @@ struct ValueFlowPassRunner {
                 return run(pass);
             }))
                 return true;
+            --n;
         }
         if (state.settings->debugwarnings) {
             if (n == 0 && values != getTotalValues()) {
diff --git a/test/testvalueflow.cpp b/test/testvalueflow.cpp
index c4b7542fe..02d72a0c4 100644
--- a/test/testvalueflow.cpp
+++ b/test/testvalueflow.cpp
@@ -7189,6 +7189,23 @@ private:
                "    }\n"
                "}\n";
         valueOfTok(code, "i");
+
+        code = "void f() {\n" // #11701
+               "    std::vector<int> v(500);\n"
+               "    for (int i = 0; i < 500; i++) {\n"
+               "        if (i < 122)\n"
+               "            v[i] = 255;\n"
+               "        else if (i == 122)\n"
+               "            v[i] = 220;\n"
+               "        else if (i < 386)\n"
+               "            v[i] = 196;\n"
+               "        else if (i == 386)\n"
+               "            v[i] = 118;\n"
+               "        else\n"
+               "            v[i] = 0;\n"
+               "    }\n"
+               "}\n";
+        valueOfTok(code, "i");
     }
 
     void valueFlowCrashConstructorInitialization() { // #9577