diff --git a/CHANGELOG.md b/CHANGELOG.md
index 82975b4fafe7..bb7d44dc9ac4 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -37,6 +37,10 @@ Ref: https://keepachangelog.com/en/1.0.0/
 
 ## [Unreleased]
 
+### Bug Fixes
+
+* (x/crisis) [#12208](https://github.com/cosmos/cosmos-sdk/pull/12208) Fix progress index of crisis invariant assertion logs.
+
 ## [v0.45.5](https://github.com/cosmos/cosmos-sdk/releases/tag/v0.45.5) - 2022-06-09
 
 ### Improvements
diff --git a/x/crisis/keeper/keeper.go b/x/crisis/keeper/keeper.go
index b9c563d5293d..b52ad7352cd4 100644
--- a/x/crisis/keeper/keeper.go
+++ b/x/crisis/keeper/keeper.go
@@ -76,7 +76,7 @@ func (k Keeper) AssertInvariants(ctx sdk.Context) {
 	invarRoutes := k.Routes()
 	n := len(invarRoutes)
 	for i, ir := range invarRoutes {
-		logger.Info("asserting crisis invariants", "inv", fmt.Sprint(i, "/", n), "name", ir.FullRoute())
+		logger.Info("asserting crisis invariants", "inv", fmt.Sprint(i+1, "/", n), "name", ir.FullRoute())
 		if res, stop := ir.Invar(ctx); stop {
 			// TODO: Include app name as part of context to allow for this to be
 			// variable.