The paper discusses microwave properties of the effective refractive index of two-component metamaterials with ferromagnetic metal inclusions. Here we study metamaterial media, which are presented as an infinite host dielectric material with periodically embedded ferrite-like metal cylindrical and spherical inclusions saturated with an external biasing magnetic dc field. The case when electromagnetic wave propagates transversely or parallel to the direction of biasing magnetic dc field is studied. Frequency ranges where the real parts of effective refractive index of the metamaterials achieve unusual values (very small, much greater than unity etc.) were found.