It is shown that in colossal magnetoresistance materials an inhomogeneous alternating magnetic field generates a strong electric field of non-inductive nature. This magnetoelectric effect is an analog of acoustoelectric effect in conventional semiconductors. Due to the above electric field spin waves in the former materials, like acoustic waves in the latter ones, acquire an additional attenuation at equilibrium. This attenuation may be converted to amplification by applying strong enough dc electric field drifting the carriers (solid-state Cherenkov’s effect). The experiments, which probed this phenomenon in HgCr2Se4 using spin wave pumping, are discussed.