This report presents a compact update on the state of multidimensional poverty (henceforth referred to as “poverty”) in the world. It compiles data from 110 developing countries covering 6.1 billion people, accounting for 92 percent of the population in developing countries. It tells an important and persistent story about how prevalent poverty is in the world and provides insights into the lives of poor people, their deprivations and how intense their poverty is—to inform and accelerate efforts to end poverty in all its forms. As still only a few countries have data from after the COVID-19 pandemic, the report urgently calls for updated multidimensional poverty data. And while providing a sobering annual stock take of global poverty, the report also highlights examples of success in every region.