Pagination problem on homepage

I’m using your plugin on quite a few websites and everything works fine except for an issue with pagination on the homepage. On the site I’m testing now, I’ve made a shortcode to show excerpts of the five most recent posts, pagination with custom labels and a custom style sheet.

However, when I click the link to show older posts, the URL of the site changes to domain.com/page/2/, but the same five posts are shown. This continues no matter how many times I click the link.

To test the shortcode I made a regular page called Test and put the exact same code in there. It worked as expected on this page. So it only seems to be an issue on the page that has been set as the homepage.