Find which version of package is installed with pip

As of pip 1.3, there is a pip show command.

$ pip show Jinja2
---
Name: Jinja2
Version: 2.7.3
Location: /path/to/virtualenv/lib/python2.7/site-packages
Requires: markupsafe

In older versions, pip freeze and grep should do the job nicely.

$ pip freeze | grep Jinja2
Jinja2==2.7.3

I just sent a pull request in pip with the enhancement Hugo Tavares said:

(specloud as example)

$ pip show specloud

Package: specloud
Version: 0.4.4
Requires:
nose
figleaf
pinocchio

Pip 1.3 now also has a list command:

$ pip list
argparse (1.2.1)
pip (1.5.1)
setuptools (2.1)
wsgiref (0.1.2)

and with --outdated as an extra argument, you will get the Current and Latest versions of the packages you are using :

$ pip list --outdated
distribute (Current: 0.6.34 Latest: 0.7.3)
django-bootstrap3 (Current: 1.1.0 Latest: 4.3.0)
Django (Current: 1.5.4 Latest: 1.6.4)
Jinja2 (Current: 2.6 Latest: 2.8)

So combining with AdamKG 's answer :

$ pip list --outdated | grep Jinja2
Jinja2 (Current: 2.6 Latest: 2.8)

Check pip-tools too : https://github.com/nvie/pip-tools