Hi,
This is basically simple math. The most commonly used interpolation algorithms are usually the extremely simple linear, quadratic or cubic ones. However, what algorithm you choose depends almost only on your application (on what kind of data you're plotting). Sometimes you might want to resort to splines instead.
Regarding libraries: Usually this stuff is extremely simple (it's basic math). I am sure that there are tons of great libraries for generic data interpolation and so on, but on an µGFX application you're usually dealing with quite a static environment where your data is always very similar. Therefore, I'd recommend to just figure out what matches your data the best and then implement that function in your application.
TL;DR: What algorithm to use really just depends on the data you're plotting.