* Euro zone bond yields fall after flash CPI numbers
* Still on track for biggest weekly rise in months
* Bund yields set for steepest one-week rise since Dec 2015
* Investors brace for central bank policy tweaks
* Euro zone periphery govt bond yields http://tmsnrt.rs/2ii2Bqr (Updates after flash euro zone inflation data)
LONDON, June 30 (Reuters) - Germany's benchmark 10-year bond yield was set on Friday for its biggest weekly jump since December 2015, topping a week in which borrowing costs across the euro zone have soared as investors brace for an end to the era of ultra-easy monetary policy.
Data showing headline inflation, targeted by the ECB at just below 2 percent, eased to 1.3 percent in June from 1.4 percent a month earlier bought some comfort to bond markets and allowed yields to fall back from their highs.
However, the underlying tone remained bearish in a week that has seen heavy selling in the world's major debt markets.
Comments from the European Central Bank and Bank of England have fuelled a perception that major central banks are at a turning-point - stepping back from the stimulus that has helped pin down borrowing costs for so long.
While the ECB has tried to calm market reaction to remarks made by its chief Mario Draghi this week, investors appear convinced that sooner or later the central bank will have to unwind its asset-purchase programme given a brighter economic backdrop and a scarcity of eligible bonds for the scheme.
"It certainty feels like a sentiment change out there. The trigger may have been Draghi's comments, but the fact is that even after clarification yields have continued to rise and that suggests there is more at play," Nordea chief strategist Jan von Gerich said.
"People are starting to come to the view that tapering will happen soon and they have to position for that."
In Germany, 10-year Bund yields dipped 1.5 basis points (bps) to 0.44 percent, down from more than three-month highs at 0.47 percent.
Still, Bund yields are 19 bps higher on the week and set for the biggest weekly jump since December 2015.
Other euro zone bond yields fell 2-3 basis points on the day but were also on track to end the week sharply higher.
French yields were set for their biggest weekly rise since November, up 18 bps. Italian yields were set for their biggest weekly jump since March.
"The inflation data has had a bit of an impact on the market," said DZ Bank strategist Daniel Lenz.
Analysts said the sharp reaction to central bank talk this week stems from the fact that many investors had positioned for bond yields to stay at low levels and were caught off guard.
Money markets price in around an 80 percent chance that the ECB will hike rates over the next year. That is up from just 20 percent earlier this month.
Outside the euro zone, U.S. Treasury yields held near six-week highs, and 10-year bond yields in Britain and Japan hit their highest levels since March earlier on Friday.
(Editing by Alison Williams)