This paper presents an approach for simultaneous measurement of temperature and pressure using miniaturized fiber inline sensors. The approach utilizes the cascaded optical fiber inline intrinsic Fabry-Perot interferometer and extrinsic Fabry-Perot interferometer as temperature and pressure sensing elements, respectively. A CO2 laser was used to create a loss between them to balance their reflection power levels. The multiplexed signals were demodulated using a Fast Fourier transform-based wavelength tracking method. Experimental results showed that the sensing system could measure temperature and pressure unambiguously in a pressure range of 0 to 6.895 x 105 Pa and a temperature range from 20°C to 700°C.