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opkg update
opkg install sqlite3-cli
opkg install python-sqlite3

sqlite3 /root/sensor.db
sqlite> CREATE TABLE sensor_data(
    id INTEGER PRIMARY KEY,
    temperature VARCHAR(64),
    sqlitetimestamp DATETIME DEFAULT CURRENT_TIMESTAMP
);
sqlite> INSERT INTO sensor_data (temperature) VALUES (30);
sqlite> INSERT INTO sensor_data (temperature) VALUES (40);
sqlite> select * from sensor_data;
sqlite>.quit

nano /root/sensor.py

#!/usr/bin/python
# -*- coding: utf-8 -*-
import sqlite3 as sqlite
from datetime import datetime
startTime = datetime.now()
for i in range(1000):
        con = sqlite.connect('/root/sensor.db')
        cur = con.cursor()
        cur.execute('select temperature from sensor_data limit 1')
        data = cur.fetchone()
        #print data[0]
        con.close()
print datetime.now() - startTime

chmod 755  /root/sensor.py

root@Arduino:~# /root/sensor.py
0:00:04.430945

Python and Sqlite3 profile speed is 4.43 ms