TOKYO, Sept 1 (Reuters) - Yields in Japanese government bonds rose on Wednesday after a strong inflation reading and hawkish comments from European Central Bank (ECB) officials boosted European bond yields in the previous session. The euro zone inflation increased to 3% year-on-year in August, the highest in a decade and far above the European Central Bank’s 2% target and a 2.7% forecast by a Reuters poll. Robert Holzmann, governor of Austria’s central bank, said the bank was in a situation where it could think about reducing buying. Dutch counterpart Klaas Knot said he expected the ECB to start reducing the pace of its emergency bond purchases at next week’s meeting, with a view to ending them in March. The 10-year JGB yield rose 0.5 basis point to 0.025% while the 20-year JGB yield climbed 1 basis point to 0.410%. The five-year yield rose 1 basis point to minus 0.110%, its highest level in almost two months. Longer-dated bond yields were more stable, with the 30-year and 40-year yield both flat at 0.645% and 0.730% . Benchmark 10-year JGB futures fell 0.11 point in price to 152.05, with trading volume jumping to 27,675 contracts, its highest level since early July. (Reporting by Japan Markets Team, Editing by Sherry Jacob-Phillips) Our Standards: The Thomson Reuters Trust Principles.