 Solution

Work on a connected regular radial interval, where $f$ is smooth and nonzero; replacing $f$ by $|f|$ allows us to take $f>0$. The only nonzero Christoffel symbols areAlong the circle, write a tangent vector in the single-valued orthonormal basis $E_r={\partial }_r$, $E_{\varphi }=f^{-1}{\partial }_{\varphi }$ as $V=u{E}_r+v{E}_{\varphi }$. The equations for parallel transport reduce toConsequently $u+iv$ acquires the factor $e^{-2\pi i{f}^{\prime }(r_0)}$ after one circuit. The basis itself agrees at $\varphi =0$ and $2\pi$, so no extra basis change is missing. The holonomy is the identity on every tangent vector precisely whenThe first condition makes this a regular circle of the Riemannian metric; the second is the actual transport condition. In particular, zero slope is sufficient but not necessary. This is holonomy around circular fibres.