SOUTH Africa's headline consumer inflation slowed to 7.2% year on year in December from 7.4% in November, in line with analysts' forecasts, statistics agency data showed. Price pressures have been gradually easing in Africa's most industrialised economy after inflation struck a 13-year high of 7.8% year on year in July. The South African Reserve Bank has raised interest rates to fight inflation at its last seven monetary policy meetings since its latest tightening cycle began in November 2021. The central bank, whose next rate-setting decision is due on Jan. 26, targets inflation of between 3% and 6%. On a month-on-month basis,…