Inner product functional encryption (IPFE) is a subclass of functional encryption (FE), whose function class is limited to inner product. We construct an efficient private-key IPFE scheme with full-hiding security, where confidentiality is assured for not only encrypted data but also functions associated with secret keys. Recently, Datta et al. presented such a scheme in PKC 2016 and this is the only scheme that achieves full-hiding security. Our scheme has an advantage over their scheme for the two aspects. More efficient: keys and ciphertexts of our scheme are almost half the size of those of their scheme. Weaker assumption: our scheme is secure under the k-linear (k-Lin) assumption, while their scheme is secure under a stronger assumption, namely, the symmetric external Diffie-Hellman (SXDH) assumption. It is well-known that the k-Lin assumption is equivalent to the SXDH assumption when k=1 and becomes weak as k increases.