Thank you for your input.
When doing an "ORDER BY measurement_time DESC" I had hoped for the query planner to firstly query the most recent "child" table, i.e. the table holding current month's data, and then move-on to the oldest table, since it knows the partition is based on measurement_time. Instead it always queries the oldest table first and then moves on to the current.
We did the partitioning to be able to drop old data saving disk space, as you said. Not for performance reasons, although we hoped than having smaller indexes would also help.
Best regards,
-Spiros