Google actually recommends this in regards to 'CSS Optimization'. They recommend in-lining critical above-fold styles and deferring the rest(css file).
Example:
<html>
<head>
<style>
.blue{color:blue;}
</style>
</head>
<body>
<div class="blue">
Hello, world!
</div>
</body>
</html>
<noscript><link rel="stylesheet" href="small.css"></noscript>
See: https://developers.google.com/speed/docs/insights/OptimizeCSSDelivery