We present a new generic construction of multi-client functional encryption (MCFE) for inner products from single-input functional inner-product encryption and standard pseudorandom functions. In spite of its simplicity, the new construction supports labels, achieves security in the standard model under adaptive corruptions, and can be instantiated from the plain DDH, LWE, and Paillier assumptions. Prior to our work, the only known constructions required discrete-log-based assumptions and the random-oracle model. Since our new scheme is not compatible with the compiler from Abdalla et al. (PKC 2019) that decentralizes the generation of the functional decryption keys, we also show how to modify the latter transformation to obtain a decentralized version of our scheme with similar features.